AALARA releases ‘urgent request for the survival of our industry’

With industry operators impacted by insurance companies reducing or removing coverage, the Australian Amusement, Leisure and Recreation Association (AALARA) has issued a dramatic communication to stakeholders in relation to its efforts to establishing a member-owned, Discretionary Mutual Fund (DMF).

In what is introduces as “no ordinary AALARA email”, the Association writes “this is an urgent request for the survival of our industry.

“AALARA is urgently and diligently looking at establishing a member-owned, Discretionary Mutual Fund (DMF). Many of our fellow operators are uninsured at this present time, and many policies that are coming due will not be renewed.

“There is a market failure with insurance within our industry and a DMF is our industry's only option if we are to survive.

“We ask that you act upon this immediately.”

Providing a letter template that requires the filling in of business specific details, the letter will be used to help build AALARA’s case with governments.

AALARA’s communication adds “we are asking for a Government grant to create a vehicle that will ensure that our industry and members can operate for many, many years to come.

“This may not apply to you right now, however from all reports and trends, your (insurance) renewal may not be as guaranteed as you may think.”

A recent survey on business insurance by the Australian Industry (Ai Group) generated comments including “the insurance market is now to the stage where you will have no choice but to be uninsured. There is simply no market to get a quote in some circumstances.”

Click here to view the AALARA template letter.

Image used for illustrative purposes only.