What does an insurance broker do?
An insurance broker works on behalf of a client in arranging insurance with insurance companies. Many insurance companies, especiialy in the area of commercial insurance, do not deal direct with the public. The only way the public can acces the products that these insurers sell is by using and insurance broker. Insurance brokers have to be licensed and qualified to work on behalf of a client.
What is risk management?
Risk management is the process of assessing the weaknesses, dangers, obstacles and perils that face your business and ranking these according to the probability of them occurring and the severity of harm to your business. You then decide how to manage the risks according to the rankings. For example, to manage the probability of fire, you may install smoke or heat detectors, fire extinguishers and hose reels. To manage the harm to your business from fire, you might take out a policy of insurance.
Does our insurance policy say that we have to cancel our game of lawn bowls when the weather is too hot?
Your insurance policy will generally require you to have a duty of care towards club members, employees and guests. This means that your club should have a weather perils policy in place, although it is not specifically required. For guidance on a weather perils policy, see the Bowls Locker.