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Home Blog Is Liability Becoming More Expensive?

Is Liability Becoming More Expensive?
By Peter Vickers Insurance Brokers | insurance broker, Insurance, liability, public liability, liability insurance, management liability, public liability insurance, public liability for small business insurance |

Risk is becoming more expensive for both insurance companies and their clients. An instance where this is becoming more prominent is how jumping pillows have been removed from holiday parks, community clubs and other areas. The new culture of risk anxiety that has come about thanks to rising insurance premiums which has now hit owners of playgrounds out of fear they may receive a letter from a lawyer holding them liable.

Many insurers have told the same story stating that the vulnerability of children is too unpredictable to provide cover for in today’s insurance climate. This also extends to playgrounds, pools, trampolines and other areas of recreation where children may interact with.

“The insurance challenges facing operators go beyond just jumping pillows and are symptomatic of a broader change in the way the insurance industry assesses liability risks.” Premiums in most areas of insurance protection have increased across the board. The situation has escalated to the point where an IAG spokesperson has recommended that owners seek the advice of a broker to help them source the cover they need.

Having an Insurance Broker to tell you where the line is drawn when it comes to your cover can save you a lot of hassle. Call us today at 1300 784 011. 


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Chartered Accountants:  Liability Limited by a Scheme under the Professional Standards Legislation - AFSL 229302  |  Peter Vickers & Associates Pty Ltd ACN 003466813 | Peter Vickers Insurance Brokers Pty Ltd AFSL 229302 ACL 229302 ACN 074 294 081
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