4,500 mutual members to take up new civil liability cover.
InsureSport, a mutual set up to help sports’ and recreation clubs obtain civil liability cover, has been suspended because other insurers are ‘better placed’ to do business.
The mutual will cease renewals and writing new business from November 30 but will continue to honour existing contracts.
InsureSport was set up by the Central Council of Physical Recreation (CCPR) and Perkins Slade Insurance in 2006.
Policyholders – as wide ranging as a rambling and gymnastics – took 50% cover with InsureSport and the remaining half with its main partners, including RSA and Zurich.
CCPR said policy-holders will be unaffected by the change and claims on policies will be dealt with as normal. Governing body policies will remain with holding insurers and Insuresport at existing rates for the term of their current policies. When those policies expire, governing bodies will have their insurances placed on a conventional basis.
John Ollard, head of finance at CCPR, said: “The fact is that the sports insurance market has recovered from the events of 9/11 and others and is a much more friendly place for sport than it was six or seven years ago – and that’s really good news for CCPR’s members.
“The gap which existed for civil insurance in the sports sector has been filled again. InsureSport enjoyed retention rates of 90% and higher but the youth of the company meant we decided that, in this market, other insurers are better placed to provide cover and field claims.”
