Member Cover
AIM's intention is to provide cover tailored specifically for the needs of activity centres.
The classes of cover which are common across the majority of members are mutualised. This means that the first portion of each risk is retained by the Mutual and claims that fall within this level are paid from Mutual funds.
The Mutual's retention is provided on a discretionary basis with claims recoverable at the discretion of the Board of Directors elected by the membership.
Above the level of Mutual retention, AIM has arranged an insurance policy for all members up to the total limit of cover required. The scope of cover is exactly the same as is provided by the AIM cover wording and members do not need to liaise with the excess insurer for any claim which falls above the Mutual retention, the managers handle this process for you.
Through the Mutual you will be provided with an Employer's Liability Certificate to comply with your statutory regulations.
Some covers are not required as widely across the membership such as personal accident and travel. AIM is still able to offer such covers but does so on a non mutual basis. This means that no retention is taken by AIM and the policy is placed "ground up" with an insurer. AIM arranges this cover for all members and does not charge a commission for doing so.
What are the specific classes of cover offered to AIM members?
Property cover including:
Material Damage for both buildings and contents
This is usually provided on an "all risks" basis and provides for loss of or damage to your property and contents.
Business Interruption
Interruption to your usual business activities through loss or damage caused by a peril covered under your Material Damage cover.
The Business Interruption cover provided is
- Loss of rental income - if you rent out any of your property to third parties, for example as office space. If you are no longer able to rent the areas out due to the damage, you can claim for the loss of rent.
- Additional increased cost of working should you incur expenses to re-start activities after a covered material damage loss has occurred, for example office relocation after a fire.
- Loss of income due to damage suffered.
Money and Assault
This provides for loss of money by theft following forcible and violent entry or assault. Cover is also provided for injury from assault following robbery when carrying money to and from the bank.
Engineering Breakdown
This cover provides in the case of damage to equipment such as boilers, lifts etc caused by a covered peril.
Please click on link to download the Property Cover Wording document.
Liability cover including:
Employers' Liability Cover
This provides in the case of damage or injury to an employee for which you are legally liable. Cover is provided to a limit of £10,000,000.
Please click on link to download the Employers' Liability Cover Wording document.
Public Liability Cover
This cover indemnifies you in the event that you are legally liable for loss, injury or damage to a third party or their property. The standard limit of cover is £5,000,000, however this can be increased if required. Public Liability cover provided by AIM is on a losses occurring basis . We are usually able to offer a retro active extension for those wishing to convert from a claims made policy. There is an article on Public Liability policies in our February 2007 newsletter which may be of interest.
Please click on link to download the Public Liability Cover Wording document.
Products Liability Cover
Similarly to Products Liability, this provides if loss or damage is caused to a third party due to your negligence in the provision of products. Again, the standard limit of cover here is £5,000,000, but an increased limit is available on request.
Please click on link to download the Products Liability Cover Wording document.
Professional Indemnity Cover
This may not be relevant to all members however those that run training courses for outdoor professionals or provide technical advice to organisations for a fee, may find this a useful cover to have in place. Professional Indemnity cover is provided as an extension to your Public Liability cover and indemnifies you against liability at law for damages and claimant's costs and expenses for claims arising out of the conduct of your business.
What non Mutual cover can AIM arrange for it's members?
One of the benefits of AIM Membership is that the cover offered is tailored to suit your needs. Below is a list of current non mutual covers which members take out, however if you require anything that is not listed here, we can usually place this for you.
Directors' & Officers' Indemnity Cover and Trustees' Indemnity Cover
Directors, officers or Trustees can be held responsible for actual or alleged wrongful acts, errors or omissions, including negligent advice, mis-statement or improper disclosure. This policy provides assistance for legal and defence costs should this occur. Examples of potential claims are employee disputes or breach of contract.
Vehicle including minibus insurance
This is a motor policy which meets the needs of the activity industry.
Legal expenses cover
Business travel insurance
Personal accident & travel insurance
Full wordings for all of these covers, both Mutual and non mutual are available on request from james.willis@rmml.com