Insurance: what you need to know

A basic understanding of what insurance is and which kind is relevant for you

What is insurance?

Insurance, at its purest and simplest, is the transfer of risk. It allows the risk of financial losses as a result of specified but unpredictable events to be transferred from an individual/organisation to an insurer for a fee or premium.

In other words, if the specified event occurs, the individual organisation can claim compensation or service from the insurer. Insurance is therefore a means of reducing uncertainty. In return for buying an insurance policy for a relatively small premium, the possibility of a larger loss is removed.

Do you need to review your insurance needs?

Sports groups are facing challenging times, with insurance premiums going up considerably. Insurers are also withdrawing from the sport and leisure sector with particular issues for some sports such as rugby, football and golf. Insurance companies may also add restrictions to their policies, so make sure you read everything carefully.

Attis Sports Division has produced this guidance which outlines the challenges and some strategies for groups to consider.

Sported don’t work with a specific insurance company but we have been made aware of the following companies who may be able to help:

In the first instance, try emailing christrotman@protectivity.com and let him know that you’re a Sported member.

We’ve also been advised that some members have used the insurers below:

*Please note that these are not endorsed by Sported*

UK Coaching also offer insurance specifically for Exercise and Fitness Professionals: https://ukcoaching.org/fitness-insurance

It would be great if you could let us know who you go with to help anyone else asking in the future.

If you’re still struggling, let us know. And if you need some advice around insurance more generally, we may be able to help.

You can download the how to guide to insurance here.