IPSHA has an insurance policy that covers you and your students for IPSHA related events. This policy has been in existence since IPSHA (JSHAA) became an incorporated body in 1994. Each state accepts responsibility for a percentage of the annual payment of the Association's Policy. The total amount paid by each state is determined by the level of risk connected with the states activities and the numbers of members/students. As an example, NSW (our largest membership state) who conduct sport under the IPSHA umbrella pay the largest percentage – 40%, while Tasmania, due to their numbers, pays 5%. In addition, the Federal Body pays for the GST on the total amount of the Insurance Policy.
Your Federal Subsidies contribute to the payment of this policy. So what does your money go towards? AON Risk Services Australia provide us with a very comprehensive policy which includes cover for the following items.
General and Products Liability (Educators Liability)
Legal liability to pay compensation (including legal expenses) to third parties if you cause or are alleged to have caused injury, death or loss of or damage to property arising out of business operations or products.
Legal liability to compensate third parties (including legal expenses) who have sustained financial loss due to a breach or alleged breach of professional duty on your part.
Directors and Officers Liability
Legal Liability for damages and legal expenses incurred due to a breach or alleged breach of duty, misleading statement or wrongful act (as defined in the policy) by a director (including Council or committee member) or officer acting in that capacity.
Supplementary Legal Expenses
Legal expenses incurred on behalf of directors, employees and organisations in defending against action which are not covered under the standard directors' and officers' liability/company reimbursement policy, (eg. prosecutions related to occupational health and safety, Environment Protection Authority and some employment related matters).
Penalties and defence costs arising out of an unintentional breach of legislation (eg. acts relating to occupational health and safety, workers' compensation, and environmental).
Loss of funds or property resulting from employee fraud, computer crime, counterfeiting or forgery.
For travel risks such as personal accident, medical and repatriation expenses, baggage and on trip purchases, money, personal liability, etc.
Fortunately, because of the very professional way we conduct business, claims are few and far between. So why have insurance at all, especially if there is an overlap with what our School's insurance policies may cover? The simple answer is peace of mind and risk prevention. By addressing both of these areas, through our Insurance Policy, IPSHA helps to ensure that the membership is supported appropriately.