INSURANCE


REPs Insurance Scheme


the ideal of affordability and quality by benefitting from access to excellent cover for their professional insurance requirements at competitive premiums through the REPs Insurance Scheme.


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By ensuring that members hold appropriate qualifications for their activities and the requirement to continue their learning and knowledge, REPs is able to demonstrate to its Insurers that members have minimised the risks associated with their trade. This reassurance for the Insurers, together with the collective purchasing power of the membership ensures that best value is obtained for the members.


With affordability addressed what about the quality of cover? Two very different areas where the REPs Insurance Scheme stands apart from many alternatives are the automatic provision of Personal Accident cover for the member and the issue of liability cover on a “claims occurring” basis.


The benefit of Personal Accident cover is relatively easy to appreciate - it provides a cash benefit to the insured member in the event of an accident “at work” which results in their temporary or permanent disablement, the loss of an eye or limb. In the very worst case the member’s estate would receive a cash benefit in the event of a fatal accident. While the automatic cover is not a replacement for a separately-


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embers of REPs come closer than most to achieving


There is often a mistaken belief that all insurance policies are the same, differentiated from each other purely by price. In today’s challenging times we are all looking to save money and finding the lowest insurance premium is no exception. But is it possible to obtain good cover at low-cost?


purchased Personal Accident policy, which should also provide cover for accidents which occur away from work, it is still a very welcome addition.


The advantage of liability cover on a “claims occurring” basis is less obvious but extremely significant. Many other insurance providers within the sector issue cover on a “claims made” basis which means the Insurer will only respond if the claim is received while the policy is in force, irrespective of when the incident happened. The danger with such policies is when an incident occurs but the claimant does not notify the instructor until some time later - possibly after the period of insurance has ceased - leaving the member exposed to a liability claim and/or legal defence costs without any insurance to meet the expense.


The liability cover under the REPs Insurance Scheme is issued on a “claims occurring” basis and provides cover for incidents that happen during the period of insurance, irrespective of whether the claim is actually made at the time or much later. This means that the member will still benefit from the protection of the policy if it has expired provided the


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incident happened when it was in force - particularly important within our industry where individuals may allow their cover to lapse if they have no work or if they subsequently become employed by a fitness centre


which includes cover for their instructors’ legal liability.


To find out more about the value of the REPs Insurance Scheme please call 020 8686 6464 or visit www.exerciseregister.org


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