Avoiding The Hazards
Wish as we might, mulligans don’t exist.
We can curse & practice swing in retrospect but the fact remains our ball is submerged on the muddy floor of an all too familiar hazard. We know it’s there so why, every week, do we end up scoop in hand trying to salvage our overpriced tour ball?
How many balls did you hit with your coach at the practice range last week? “Coach?! I’m not a pro” EXACTLY! Tour professionals spend the best part of their week preparing at the range with their trusted swing advisor so, more often than not, they are splitting the fairway & avoiding the hazards.
Just for a moment, say you employed a coach. Wouldn’t it be nice standing on the tee, water hazard to the left & bunkers on your right but the only thought you have is what club you’re going to hit next from the middle of the fairway after you smash a drive dead centre?
You’ve done it! As your ball sails through the air you know already it’s perfect & it comes to rest on the short grass. Hazards averted, why? Because preparation gave you peace of mind, gave you confidence & all you had to do was swing the club.
When you’ve been advising customers on risk management & insurance programs for several years you start to realise that as a priority it just doesn’t rank on the first page. It’s therefore rarely seen as value adding to a business but one thing remains consistent & that’s people would always rather be playing from the fairway (financial security) than suffering in the hazard (financial ruin)
Here’s my top five musts when insuring your golf business/facility;
1. Engage a broker/advisor. You wouldn’t attempt to rewire your own home, so don’t try to navigate the insurance minefield.Leave it up to a qualified professional!
2. Take the time to understand your insurance program. Once prepared your broker should be able to demonstrate the strengths & any deficiencies in your cover.
3. Annually review your sums insured. Under-insurance is a common issue that leaves many out of pocket. I suggest completing systematic property valuations, inventory stock-takes & financial audits to best safeguard your business
4. Inquire about ways to reduce your premium WITHOUT sacrificing cover. Consider higher excesses on certain insurances or implement risk management strategies to demonstrate to your insurer you present a reduced risk.
5. Don’t be afraid to make a claim, it’s why you have insurance!
"It wont happen to me"... But what if it does?!
Case Study #1 Nelson Bay Golf Club, Australia
A fire in September 2015 all but demolished this iconic Australian club of 55 years. Fast forward to December 2016 & rebuilding efforts are far from complete.
http://www.golf.org.au/newsdisplay/fire-guts-nelson-bay-clubhouse/87501
Case Study #2 Jacks Point Golf Club, New Zealand
A spot fire turns into an inferno at this picturesque golf club. Events due to be held at the clubhouse where cancelled for the next 12 months whilst rebuilding.
Case Study #3 Warringah Golf Club, Australia
https://pesticides.australianmap.net/2001-warringah-golf-course-10000-dead-fish/
A Sydney golf club was yesterday ordered to pay $600,000 for its role in an environmental disaster that killed more than 10,000 fish, as well as numerous ducks and other wildlife.
Case Study # 4 Gardens Park Golf Links, Australia
Tree falls on course killing man. Does Liability lie with the golf club or the government who own the land? Needless to say both would have been quick to speak to their insurance advisor.