Sport and Recreation administrators will be well aware of the situation in regard to the cost and availability of liability insurance in today’s market. We are concerned that in these difficult circumstances consumers, in their search for insurance cover, may look to insurers with inappropriate financial security.

Insurance is purchased to provide financial security in the event of a claim. It is vital that consumers satisfy themselves that the entity with whom they are effecting cover has sufficient financial strength to pay claims, not only today but also into the future. This is particularly relevant when considering the purchase of “long tail” insurance products such as public liability where a claim may not be settled for years to come.
The most effective method of checking an insurers financial security is via one of the claims paying and financial strength rating companies.

Best’s Ratings are recognized worldwide as the benchmark for assessing insurers’ financial strength. A.M. Best’s ratings reflect an in-depth knowledge of the insurance industry developed during its 100-year relationship with the business.
The objective of Best’s rating system is to provide an opinion as to an insurer’s financial strength and ability to meet ongoing obligations to policyholders. Their opinions are derived from an evaluation of a company’s balance sheet strength, operating performance and business profile as compared with Best’s quantitative and qualitative standards.