Cricket Club Insurance: Latest news for 2023 regarding ECB, Howden and Aston Lark
With clubs beginning to think about their financial costs going forward this New Year, Cricket World recently caught up with our Cricket Club Insurance Expert, Colin Mico (Aston Lark) to find out how things are looking for 2023.
He commented, “Premiums are increasing across the market, so clubs should be expecting a 5-10% increase. We are doing our best to mitigate these increases so our renewals will be at the lower end of the spectrum”
“As you are aware, Aston Lark became part of the Howden Group in October 2021, and I am now Head of Recreational Clubs (Tennis, Rugby & Cricket) for the entire Group.
That means that we are part of the conversation with the ECB and their plan to roll out the Safe Hands Management Portal to all clubs in England & Wales (via the County Boards).
With the SHMP, comes the offer of free Combined Liability cover for clubs, which will help defer the premium increases that clubs will be seeing on their property exposures.
Howden & Aston Lark have managed to align our offer to clubs, with the combined liabilities to be covered by the Central Insurance Scheme, and then the property exposures via the Aston Lark cricket club insurance facility with Hiscox. For those clubs who do not want to join the ECB Central Insurance Scheme, we can still offer the necessary liability cover.
We have also set up an online portal for the clubs to use Cricket and Sport Clubs Insurance | Aston Lark so that they can access quotes outside of office hours.
Given that the vast majority of clubs are run by busy volunteers, we hope that this will allow them greater flexibility in obtaining insurance quotes. They can still contact us if they need any help or advice, and we are creating a short video for the site so that the insurance quotes are requested on the right basis.
Under-insurance is an issue at the moment, with building costs increasing rapidly, so we do revert to clubs using our quote portal after reviewing their sums insured. It is important to get it right so that you have the funds you need to rebuild, repair or replace after a claim.
I am glad that the ECB have made a long term commitment to the Central Insurance Scheme as it allows clubs to budget without the feat of suddenly being asked for £500 to pay for liability cover.
With the appointments of Richard Thompson and Richard Gould at the ECB, I envisage that there will be a far warmer relationship with recreational clubs, and the commitment to the Central Insurance Scheme may be the start of greater support for grass roots cricket”.
©Cricket World 2023