You’ll be protected by a comprehensive industry-leading insurance package from the moment you become a member. This is included in your membership and does not cost you anything extra.
For greater detail on all insurance visit the Howden microsite for members here.
Insuring your career is an essential part of teaching and coaching as you are providing a professional service and may be held responsible for an injury to another person or damage to their property.
In circumstances like these, it is essential that you have appropriate insurance protection. Without insurance, you will need to defend yourself, putting your personal wealth at risk.
Becoming a member of the Institute of swimming helps you to manage your teaching and coaching insurance risks, so you can concentrate on helping others
By becoming an Institute of Swimming Member, you will receive up to £20 million of cover.
This is set at this level as failure to have adequate limits of indemnity can result in the individual being financially exposed.
Once the limit of indemnity is exhausted by the insurer any amount awarded over this limit is the individuals’ responsibility. Therefore if you only have a £10m limit but the judge awards £11.1m you will be expected to pay the £1.1m personally.
There has been a recent change to the way claims are calculated for long term injuries, which is having a huge impact on the level of awards considered by the courts.
Here is a brief example to show the change:
An adult is disabled in an accident and cannot work again. The court determines she would have earned £20,000 a year until retirement and her medical care is determined to be £100,000 a year.
Under the previous calculation method, the total sum award (consisting of Loss of Earnings and Cost of Care) would be £3,414,350.
With the new method, it would increase to around £8,480,400 – an increase of over £5m.