News
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Public liability nightmare over for Regional Arts NSW affiliates 6 May 2002 Regional Arts NSW has at last secured an affordable insurance package for the Regional Arts Boards, local arts councils and other affiliated arts and cultural groups across regional and rural New South Wales. In a surprise offer through Aradlay Insurance Brokers, a proposal for a $20,000 public liability insurance policy with Lloyd's of London (through Interpacific Underwriting Agencies P/L) was received at Regional Arts NSW ten days ago. Until then the only quotes for public liability cover elicited since negotiations first started on behalf of the network last October were for $140,000 and $180,000. Instead of the nine to eleven fold hike in premiums that these offers represented, the cost of public liability insurance for Regional Arts NSW affiliates is now up only 25% on last year. While this is still a significant increase, it will be affordable for most affiliate groups, many of whom, particularly those smaller and more remote groups, faced closure without the funds to pay very high premiums. During the crisis, over the past few months, individual groups who sought their own insurance were quoted wildly differing premiums from $800 to $8,000 each (where they heard back from brokers at all). Now all arts councils and other arts and cultural groups affiliated with Regional Arts NSW have access to both public liability and personal accident insurance cover for $400.30. It is a tremendous relief for everyone after a frustrating and stressful time. Many events were postponed and cancelled and one group folded under the pressure. But the regional arts network has demonstrated great tenacity and optimism and it has survivied. For now, at least, the crisis is over for the Regional Arts NSW
network ... _____ The insurance crisis is far from over. Regional Arts
NSW's experience highlights a number of issues that remain unresolved
in what is still an unpredictable sector. For information about the Regional Arts NSW scheme click here. |