Insurance programs for Thoroughbred Trainers
Insurance for Trainers falls into two categories; those that are OBLIGATORY, and those that are PREFERENTIAL.
Obligatory Insurances
REQUIREMENT TYPE | INSURANCE | LIMIT OF LIABILITY | DESCRIPTION OF COVERAGE |
|---|---|---|---|
License requirement |
Public and Products Liability |
$20,000,000 any one loss (and in the annual aggregate for products liability) |
Covers trainers for their legal liability to compensate third parties for bodily injury or damage to property that arises from the conduct of the trainers business. |
License requirement |
Professional Indemnity |
$500,000 any one loss (and in the annual aggregate for any one trainer) / $4,000,000 per annum |
Covers trainers for their legal liability to compensate third parties for financial loss they suffer as a result of the trainers’ breach of professional duty in the conduct of his / her business. |
A Statutory Requirement* i.e.: by Law |
Worker’s Compensation |
In accordance with the legal requirement |
Covers the employer’s liability to his / her employees for personal injury / illness they suffer as a result of their performing work duties. |
A Statutory Requirement i.e.: by Law |
Motor Vehicle Third Party Insurance |
In accordance with the legal requirement |
Covers costs and damages associated with injury occasioned to a person, where caused by the use of the registered motor vehicle. |
* Applicable where the Employer pays wages which exceed $7,500 per annum or employs a trainee or apprentice.
Public and Products Liability and Professional Indemnity Insurance
This insurance is a condition of license for Thoroughbred Trainers throughout Australia.
The ATA provides trainers with the opportunity to join their national program. Our insurance broker, Marsh, manages this program, which has been in place for more than 30 years. Around 2,500 trainers around Australia are protected by this insurance program.
This program provides participants with comfort in the knowledge that they will be covered by an insurance program purpose designed to cover a broad range of racing, training and stable risks, with generous limits of liability.
Click here to access more information about the ATA's National Insurance Programme from the Marsh Sport website.
Worker’s Compensation
Worker’s Compensation is a requirement of States and Territories Law.
It varies in its requirements, administration and application from States to Territories.
Thoroughbred racing is also regulated and administered by different Principal Racing Authorities in each State or Territory. Therefore, the ATA cannot arrange a National Scheme for its Members.
The States and Territories differ in many ways, the main differences being:
- Govt. controlled schemes, in some cases administered by agents,
- Private insurance providers, and in one case (NSW), by an Industry self-insurance scheme.
There are also differences regarding whom must be insured or otherwise, and certain persons (mainly jockeys, apprentice jockeys and track riders) being “deemed” employees of the Principal Racing Authority or another entity for certain activities, rather than the common law employer. i.e. trainer
Finally, there is also a myriad of different approaches to who is or is not, an independent contractor, both in a Licensing and Workers Compensation sense.
From the trainers own perspective, unless the applicable WorkCover provides cover for working Directors, and the trainer is employed by his own company; the trainer has NO COVER for injuries at work. The same applies for self-employed trainers, whether in a partnership or otherwise.
More information about worker’s compensation is available from www.business.gov.au, or from the relevant Workcover or WorkSafe authority in in your State or Territory.
Preferential Insurances
Personal Injury or Illness affecting the Trainer
The vast majority of trainers are sole traders, or participate in Partnerships. In these circumstances, the trainer is self-employed and has NO WorkCover. Careful thought needs to be given to how training income can be maintained if the trainer or partner is injured.
Some larger trainers operate their business through a corporate entity (Company) and may have WorkCover as a working Director of that Company.
Occasionally a trainer is employed by another person or entity and accordingly, is entitled to claim WorkCover from the employer. This does not apply to Contracting arrangements.
Other Preferential Insurances
It is the responsibility of each trainer to assess his or her insurance wants or needs.
The ATA's insurance broker, Marsh, will assist by providing advice and/or quotations.
This includes quotations for the any or all of following:
- Motor Vehicle – Own Damage
- Property (Home & Contents)
- Property (Stables & Race gear)
- Travel
- Disability & Life insurances
- Personal Accident / Illness