Compulsory AON Insurance
Insurance requirements mean the athlete uptakes the insurance from the day of their departure- until their return.
5 days including bike= $152.50
5 days excluding bike= $117.50
10 day including bike= $305
10 day excluding bike= $235
Tri NZ is required by ITU to ensure that all NZ Age Group Team athletes who take part in an ITU Age Group event are covered by an insurance policy that meets ITU’s minimum requirements. Tri NZ has identified an insurer that is willing to provide a compliant policy and has decided to mandate the use of this policy as a condition to inclusion in the NZ Age Group Team.
Through Aon (Tri NZ’s broker), expressions of interest were sought for the provision of an ITU compliant policy from a wide selection of insurers. ITU’s insurance requirements only apply to competition days but we were unable to secure an insurer willing to provide a policy for competition days only. Insurers approached were only willing to provide a policy that covers the entire period of travel (i.e. – from when an athlete leaves NZ until when he or she returns to NZ).
In recent years, there have been a large numbers of claims made by NZ Age Group Team athletes. This has resulted in an increase in premiums going forward.
The majority of historic claims relate to damage to bikes and medical support. The ITU minimum requirements do not mandate that an athlete must have insurance cover for their bike. Accordingly, and to provide informed choice for our NZ Age Group Team athletes, we have negotiated two policy options:
- a policy that meets ITU minimum requirements but which does not cover damage to bikes; and
- a policy which meets ITU minimum requirements and also includes cover for damage to bikes.
It is a condition of inclusion in the NZ Age Group Team (through the Athlete Agreement) that athletes take out one of these two policies. Please note that, for the reasons set out above, these policies must be taken out for the entire period of travel (and not just the competition days, as required by ITU). Tri NZ is unable to consider alternative polices because we do not have the resources or expertise to assess any alternative policy against ITU minimum requirements.
Tri NZ receives commission from Aon in connection with policies taken out by NZ Age Group Team athletes. We have decided to reduce that commission to help reduce the increased policy costs for our athletes. Set out below is a table showing comparative costs between the 2017 and the 2018 competition years.
A comparative breakdown can be seen here.