General Property Insurance
Who insures this policy?
The policy is issued by ATC Insurance Solutions Pty Ltd (ACN 121 360 978, AFS Licence No. 305802) acting under a binder as an agent of the insurer, certain underwriters at Lloyd's of London.
Period of insurance
31st December 2020 to 30th September 2021
This insurance cover only relates to the period noted above. If this insurance cover is cancelled or renewed, the information on this website will be updated accordingly. In the absence of such notification do not assume that the policy has or will be renewed unless Tennis Australia has advised accordingly.
Who is Covered under this policy?
Current Business Package coach members of Tennis Australia ONLY.
What is covered?
Tennis equipment owned by the insured (including any accessories or carrying cases) which is lost or damaged from a sudden or unforeseen accident including theft from a securely locked building or vehicle. The basis of settlement for losses is outlined below and the full policy terms and conditions available in the policy wording is provided below.
Unspecified Tennis Equipment for Any One Loss
Excess Payable (each and every claim)
For claims up to an including $2,500
For claims up to an including $2,500
Equipment Hire: In the event of a claim under the General Property we will pay to the Insured person the cost of temporary hire of equipment.
Limit $500 each and every claim
Loss of Property: The insurer will pay for a loss of property insured anywhere in Australia and worldwide for 21 days.
Co-Insurnace: Co-Insurance will not apply to cover under the policy.
Policy Wording Applicable:
The "General Property" Cover only provided in that section of ATC Business Pack Wording V1.0 [WRD 106].
If you require cover under other Policy sections, please contact Marsh to discuss your options.
Please refer to the information below and policy wording for a complete list of policy conditions and exclusions, or call Marsh on 1300 130 373 to have a copy sent to you.
Flood Exclusion - It is hereby noted that under Fire and Perils section Cover 5, Flood is removed and deleted from this policy.
Additional Exclusion - Theft without forcible and violent entry to locked premises or vehicles containing the property.
BASIS OF SETTLEMENT
If the Tennis Equipment that suffers Loss was purchased new, and is not older than 4 years and 364 days at the date of the Loss, the Insurer at their option:
- May replace the Tennis Equipment with new Tennis Equipment; or
- May repair the Tennis Equipment to a condition equal to, but not better or more expensive than, its condition when new; or
- May pay the Insured Person the cash equivalent for the costs of a) or b), whichever the lesser. If the Insured Person has requested a cash payment We shall pay no more than what it would costs Us to replace or repair the item, less any discounts available to us.
If the Tennis Equipment that suffers Loss was purchased second hand, or is older than 4 years and 364 days at the date of the Loss, the Insurer at their option:
- May replace the Tennis Equipment with Tennis Equipment in a condition equal to, but not more extensive than, its condition at the time of the loss, subject to an allowance for wear, tear and depreciation being deducted; or
- May, for Tennis Equipment purchased new, pay the Insured Person a cash settlement following deduction of 30% from the replacement cost plus a further 7.5% for each year thereafter to a maximum of 60%; or
- May, for Tennis Equipment purchased second hand, pay the Insured Person a cash settlement following deduction of 7.5% per annum from the replacement cost up to a maximum deduction of 60%; or
- May repair the Tennis Equipment to a condition equal to, but not better or more expensive than, its condition when new, deducting 7.5% per annum up to a maximum of 60% off the repair cost.