Lifesavers applaud tort reform
Surf Life Saving Australia (SLSA) – which was slammed with massive public liability rate increases only 18 months ago – is very happy with the tort reform process. And contrary to reports in the general media, it doesn’t see the High Court’s decision in the Swain case forcing them off the beaches.
SLSA spokesman Sean O’Connell told Sunrise Exchange News the organisation was initially concerned at the decision, but its lawyers are confident it won’t have any negative effects.
“We’ve met with our brokers and lawyers and we’re convinced we won’t have to change the way we operate because of this decision.”
Last year SLSA told Sunrise Exchange News it was afraid it would have to cease operating when its public liability policy increased by more than 150%. It finally obtained cover for $1.5 million through a Lloyd’s syndicate. The price of the policy put a massive dent in the organisation’s pocket.
But Mr O’Connell says this year SLSA has adopted a capped self-insurance scheme through its Australian broker. “This scheme has really assisted us in examining our own risk management techniques.”