The tourism industry has an alternative solution for inbound tour operators, hire equipment operators and tourism sites with the launch of ASR Underwriting Agencies’ new liability product.
Launched on 17 March, the product offers a $20 million indemnity limit and covers an array of fines, penalties and legal expenses along with tailored deductibles, occupations and activities.
John Flower, ASR CEO Managing Director, says the product expansion to brokers is a result of the backing by Lloyd’s Syndicate 609 Atrium.
“We’re broadening the options for brokers by providing an alternative solution for their clients. The policy is part of our commitment to product innovation,” Flower says.
“Atrium writes this type of cover around the globe, so we’re able to benefit from their underwriters’ expertise to expand the product’s availability to Australian brokers.
“We also offer an errors and omissions endorsement.”
The policy focuses on inbound tourism including urban, regional, agri-tourism, ecotourism and leisure tourism packages.
A range of outdoor equipment from watercraft, bicycles to row boats and camping equipment are acceptable.
The wording also covers a wide range of tourism sites, museums, galleries and animal parks.