SSAA Mutual Members Firearms Protection is replacing the longstanding SSAA Members Firearms Insurance and is the same secure and affordable long-term cover for your firearms and fixed accessories, just with a new name. This expansion of the Association’s in-house services will ensure you have a dependable cover option into the future without relying on the fluctuating insurance industry to protect your most valued assets.
In a world reeling from the pandemic, bushfires, floods and cyclones in recent years, insurance companies are now more risk-averse than ever amid the most unpredictable insurance market in 20 years. Policy costs are skyrocketing and many organisations simply can’t secure insurance at any price. Caravan parks, amusement ride operators, building inspectors, riding schools, adventure holidays and even the security sector are examples of industries now struggling to insure themselves.
SSAA National President Lance Miller said it was a natural progression for the Association as Australia’s largest sports and recreational shooting body to shore up a vital service for its members. “Over the years SSAA has paid millions of dollars for insurance cover to service our members’ needs,” Lance said. “Shooting in particular has one of the best safety records of any sport out there, yet negotiating a cost-effective policy with realistic terms and conditions is no longer viable.”
The SSAA Mutual Members Firearms Protection service began in April through a newly-formed company (SSAA Mutual Limited) which is operating as a discretionary mutual fund (DMF). This fund, regulated by the Australian Securities and Investments Commission (ASIC), will involve the same $35 annual fee for $25,000 cover on firearms and fixed accessories and the same claims process. The SSAA Mutual Board will oversee claim approvals and payment under this new firearms cover and in turn will be advised by the experts at SSAA General Insurance Brokers on the recommended outcome of any claim.
SSAA Mutual Members Firearms Protection will be on offer to members due for renewal and form part of the existing online renewal process as an option for all members. “We’re joining the ranks of a worldwide network of mutual funds where organisations have stepped away from insurers to manage their own risk,” Lance said. “Mutual fund operators reallocate insurance premiums to a central mutual fund and manage the cover on behalf of members. With our unique cover needs and knowledge of firearms and accessories, no-one is better placed to manage firearms cover than the new SSAA Mutual.”
For more information on SSAA Mutual Firearms Protection, call our friendly staff at the SSAA Membership office on (02) 8805 3900, SSAA General Insurance Brokers on (08) 8332 0281 or visit www.ssaaib.com.au