A new insurance deal that bolsters the public liability coverage at greyhound racing tracks across the state and saves the industry over $100,000 has been announced by Greyhound Racing NSW (GRNSW).
GRNSW Chief Executive Brent Hogan said it was a great result for the whole industry when savings of this magnitude can be achieved.
“We went through a thorough review of our insurances and we are delighted to partner with Willis Australia who have delivered a saving in excess of $100,000 on our industry wide public liability policy alone,” Hogan said.
“The savings that have been achieved will get passed directly on to clubs and this is a further example of GRNSW’s commitment to achieving significant financial savings for the industry based around good management practices.”
Willis is a global leader in risk management and insurance services, managing the insurance business of the likes of Manchester United Football Club and Tiger Woods. Willis have recently been appointed by
the GRNSW Board to act on its behalf for the next three years.
The saving on public liability insurance represents a 48% reduction on what the greyhound racing industry paid for public liability insurance in the past year. In a climate where insurance is extremely important and a burden to many sporting organisations, this saving allows GRNSW to provide a welcome boost to club funds alongside changes to funding models for clubs that were announced last week.
“Our key goal is to provide real and sustainable prizemoney growth to the industry by reducing costs and increasing revenue. This result is a further step in the right direction toward achieving that ongoing objective,” Hogan concluded.