ARU Funded Deductible

This plan is structured on a different basis to conventional insurance. To obtain cost savings and other future advantages, the ARU has arranged for the Sports Injury insurance to incorporate the ARU Funded Deductible. The ARU Funded Deductible is administered by SLE and is a form of self-insurance which has been set up by the ARU to provide fully funded cover for the first $1.9 million (in aggregate) of sports injury claims. Claims in excess of the first $1.9 million are covered under insurance policies effected with SLE.

The ARU and its members benefit from this arrangement in that any surplus in the Funded Deductible not used to pay claims and claims costs are repaid to the ARU and its members for the benefit of the members. The Levy payable by you allows for your share of the ARU Funded Deductible and the insurance costs. The ARU Funded Deductible will be paid to SLE who will use the fund to pay claims which fall within the Deductible. Claims must be notified to SLE and will be paid from the ARU Funded Deductible on the same terms and conditions as the insurance policy with SLE. The ARU Funded Deductible is not insurance or an insurance contract. It is a self-insurance arrangement. This means that you and the entitled claimants are not entitled to the same protection as an insurance policyholder under the law. However, as the Funded Deductible is fully supported by a cash deposit there is no gap in coverage or funding ability. The ARU Funded Deductible is not regulated by the Australian Prudential Regulation Authority (APRA). Should you require any additional information on the ARU Funded Deductible please contact Gow-Gates.

The Public and Products Liability and Professional Indemnity and Club Management Liability policies are straight forward insurance policies that are placed with SLE. They do not form any part of the ARU Funded Deductible.