Everest Risk Group (ERG)
ERG is a Corporate Authorised Representative (No 276869) of Insurance Advisernet Australia Pty Limited. (IAA - Australian Financial Services Number 240549).  We suggest reviewing our Financial Services Guide for information relating to our business and how we are remunerated.

Click Here to View our Financial Services Guide

Use of information

Australian Mens Shed Association (AMSA) Disclosure of General Information

As a member of the Australian Men's Shed Association (AMSA), you have exclusive access to specially negotiated member coverage and premiums. In facilitating this service, AMSA acts as your advocate, negotiating coverage terms and premiums which are advantageous to eligible members.

Furthermore, AMSA serves as an intermediary between members and our IAA Authorised Representative, Everest Risk Group Pty Ltd (276869). This arrangement, provided at no additional cost to our members, includes the dissemination of essential documentation and information from ERG, such as:

• A Financial Services Guide, which includes contact details for our ERG Authorised Representative.
• Policy Schedules.
• A copy of, or access to, the relevant Product Disclosure Statement, which details the product's terms and conditions.
• Renewal notices.
• If applicable, notification of cancellation or non-renewal of policies.

It is our duty to inform you of our obligation to compensate you for any loss or damage resulting from a failure to notify you as required of the aforementioned items. In providing these services to our members, AMSA does not receive any rebates or commissions from Insurance Advisernet, its Authorised Representative (ERG), or the insurers for arranging the issue of insurance coverage.

Member Numbers – Important Declaration

For the purpose of completing the insurance application, all members must be declared.

This includes:

• Active members
• Social members
• Life or honorary members
• Members participating as part of Centrelink Mutual Obligation or similar programs
• Members who do not regularly use workshop facilities

For insurance purposes, a member is any individual who holds membership status under your Shed’s constitution or rules. This applies regardless of whether a membership fee is charged.

Accurate member declarations are critical to the operation of the AMSA Insurance Program. Failure to correctly declare all members may affect the operation of cover or claims outcomes.

AMSA, Everest Risk Group and your insurers rely on Sheds to ensure declared member numbers are complete and accurate. This cooperation supports the ongoing sustainability and affordability of the program for all participating Sheds.

If you are unsure whether a particular individual should be included, please contact AMSA or Everest Risk Group before submitting this application.

Please read and acknowledge the following when completing the declaration questions.

Your Duty of Disclosure - What you must tell us

• that diminishes the risk
• that is of common knowledge
• that we know or should know in the ordinary course of our business as an insurer, or
• which we indicate we do not want to know.

Under-insurance 

Industrial Special Risks property insurance is written on a “Reinstatement/Replacement” basis which means replacing the property destroyed or restoring the damage with new materials without any deduction for depreciation or volunteer labour.

If incorrect values are declared for insurance purposes, it can have significant implications under the Average/Co-Insurance clause of the policy:

Average/Co-Insurance Clause Activation: This clause is applied in cases of underinsurance.  It essentially means if the declared value of your property or assets is less than their actual replacement value, you may not be fully insured.

Effect of Underinsurance: By declaring a value lower than the actual full replacement value, you are effectively self-insuring a portion of the risk.  This means you are assuming responsibility for a part of any potential loss.

Proportionate Claim Payment: In the event of a claim, if it is found the declared value is less than the actual value, the insurer may only pay a claim amount proportionate to the declared value against the actual full value.  For example, if you have declared 75% of the actual value, in the event of a claim, the insurer may only cover 75% of the loss, leaving you to fund the remaining 25%.

Importance of Accurate Valuation: It is, therefore, crucial to accurately assess and declare the value of your property and assets.  This ensures you receive adequate coverage from your insurer in the event of a claim and avoids the risk of underinsurance.

Declaring incorrect values can lead to underinsurance, which may significantly impact the amount you can claim.  The Average/Co-Insurance clause means you could be responsible for a portion of any loss if your declared values are lower than the actual values.  Accurate valuation and declaration are key to ensuring full insurance coverage.

Waiver of Liability Agreements
Where another person would be liable to compensate you for any loss or damage otherwise covered by the policy, but you have agreed with that person either before or after the loss or damage occurred that you would not seek to recover any monies from that person, the insurer will not cover you under the policy for any such loss or damage.

General Advice Warning

The information provided is to be regarded as general advice. Whilst we may have collected risk information, your personal objectives, needs or financial situations were not taken into account when preparing this information. We recommend you consider the suitability of this general advice, in respect of your objectives, financial situation and needs before acting on it. You should obtain and consider the relevant product disclosure statement before making any decision to purchase this financial product

Your Privacy

We value your privacy. Our Privacy Policy sets out how we collect, disclose and handle personal information under the Privacy Act and the Australian Privacy Principals. By providing us such information you consent to these practices unless you tell us otherwise. Our Privacy policy is available at https://www.insuranceadviser.net/ia-privacy-policy or by contacting us.

Who do we contact with questions related to 'the insurance'

Everest Risk Group Pty Ltd
Sean McDermott (Authorised Representative # 447131)
Phone: 02 8880 0653
Email: amsa@everestrg.com.au

When sending ERG an email, please place the name of your Shed in the ‘Subject’ line.

When contacting ERG, you should be aware of our Privacy Policy.  The Privacy Policy sets out how we collect, disclose and handle personal information under the Privacy Act and the Australian Privacy Principals.

Activities of a Shed
The activities the insurers note as being standard, for a Shed, are below.  Please be aware this has changed from expiry to correct typographical errors and create consistency in the language.  Coverage has not altered.

Business Description:

1. Property owners
2. Property occupiers
3. Fundraising BBQs and similar activities
4. Holding and/or organising fete’s, markets and similar events including car parking direction (not a valet service), where there are fewer than 2,500 participants, no fireworks or pyrotechnics, and each exhibitor is responsible for their own insurance coverage
5. Project work, including all workshop-type activities and subsequent installation, where statutory certification is not required
6. Project work in the community, excluding trade services where statutory certification is required
7. Mentoring and tutelage of students from the age of 12
8. Instruction of others on the correct use of workshop tools and equipment
9. Production and sale of woodwork and other products to support fundraising objectives
10. Exercise programmes for mind, body, and spirit, including a workout space where weight blocks do not exceed 10kg
11. Repairs to machinery or equipment (including lawnmowers or small calibre motorised equipment) where statutory certification is not required
12. Book Clubs, art clubs, and other non-physical recreation activities undertaken at the insured’s premises
13. Excursions, including by bicycle (excluding mountain biking) or foot, on designated tracks, pathways, and other outside locations
14. Tours and tour accompaniment within Australia
15. Provision of guest speakers on relevant topics
16. Model aircraft flying and tutelage
17. Working with local retailers to construct equipment in accordance with the manufacturer’s specifications
18. Tutelage and assistance for those with special needs
19. Cookery classes where the instructor holds a relevant food handling certificate
20. Testing and tagging of insured-owned equipment, performed by those holding the appropriate certification (not extending to equipment being readied for sale)
21. Working with participants provided from external agencies
22. Production of goods for sale (excluding electrical items)

We ask you review the above activities; and, if necessary advise of others you may perform: - Please note, the additional activities do not form part of the policy unless you are advised otherwise.

*Note:  Cover for activities not noted in (A) - (V) above are not insured until confirmation is provided by the insurer/Everest Risk Group

It is not the intention of the policy to cover high hazard activities (example - welding off site)

DO YOU HAVE ASSETS TO INSURE?
This question is important.

If your Shed owns, uses, or is responsible for any physical property, you should answer “Yes” to the next question.

This includes:

• Buildings or parts of buildings
• Contents, tools, machinery, fixtures, and fittings
• Improvements, sheds, or structures
• Any other property the Shed is responsible for insuring

What the standard AMSA cover includes
The standard AMSA Insurance Package automatically provides:

• Up to $100,000 Total Declared Value for Fire and Other Perils
• $15,000 Burglary cover for any one loss at one location

How the ISR policy works
The Industrial Special Risks policy covers all tangible assets you are responsible for, as a single total value.
It does not separate cover into “building” and “contents” in the way home insurance does.

This means:

• You must consider the full replacement cost of all assets together
• The total value you declare applies across the site

This section is also where Sheds with higher value assets, or those participating in ISR 2, must declare the total Sums Insured they wish to insure for.

Excesses 
Excesses vary depending on the type of loss.
Each Shed should refer to the Policy Schedule for the excesses and conditions which apply.

Important exclusions
Flood is not covered under this policy.
This is not a complete list of exclusions. Please refer to the policy wording and schedule for full details.

Property Coverage

Important Property Insurance Notes

Property Claims

All property claims must be lodged and notified, in writing, with CGU no later than 30 days after discovery, as per Condition 6 of the Industrial Special Risks policy

On the happening of any loss, destruction or damage, the Insured shall forthwith give notice thereof in writing to the Insurer(s) and shall (within thirty (30) days after such loss, destruction or damage or such further time as the Insurer(s) may in writing allow), at the Insured's own expense, deliver to the Insurer(s) a claim, in writing containing as particular an account as may be reasonably practicable of the several articles or portions of property lost, destroyed or damaged and of the amount of loss, destruction or damage thereto, having regard to their value at the time of the loss, destruction or damage, together with details of any other insurances on any property hereby insured.

The Insured shall use due diligence and do and concur in doing all things reasonably practicable to minimise any interruption of or interference with the Business to avoid or diminish the loss and shall also deliver to the Insurer(s) a statement in writing of any claim certified by the Insured's auditor, with all particulars and details reasonably practicable of the loss and shall produce and furnish all books of accounts and other business books, invoices, vouchers and all other documents, proofs, information, explanations and other evidence and facilities as may reasonably be required for investigation and verification of the claim together with (if demanded) a statutory declaration of the truth of the claim and of any matters connected therewith.

No claim under this Policy shall be payable unless you have complied with the terms of this condition.

Asset Registers and Proof of Ownership

At the time of a claim, your Shed must be able to produce an Asset Register, itemising the contents of your Shed. It is incumbent upon Sheds to prove their loss and value of each item at the time of a claim. We suggest retaining an electronic copy of your Asset Register, receipts and other proof of ownership documentation, in the cloud, for access when required.

In addition to an asset register, a video log of the shed interior and contents could also assist in quantifying your loss to the insurer in the event of destruction or major burglary.

Industrial Special Risks Declared Values

Industrial Special Risks property insurance is written on a “Reinstatement/Replacement” basis which means replacing the property destroyed or restoring the damage with new materials without any deduction for depreciation or volunteer labour.

Please note the minimum, combined contents & building, declared value for the Industrial Special Risks policy is $100,000*.  

You need to assess whether the declared values you have chosen are adequate every year before you renew your Policy.

*Additional charges apply for cover above this limit.

Please be aware: 

For Sheds with Standard Asset and Burglary Limits: This option applies to Sheds whose total asset value is $100,000 or less, with a need for burglary coverage up to $15,000. The AMSA Insurance Program Standard Property Policy is designed to cater specifically to these requirements.

For Sheds with Higher Asset Values or Additional Locations: If your Shed's assets exceed $100,000 or if you require burglary coverage beyond $15,000, the Standard Property Policy may not fully meet your needs. In such cases, we have an alternative Property only Policy. This policy is tailored to offer comprehensive protection for Sheds with higher asset values or those operating from multiple locations.

If you have any doubts or if your needs change, feel free to contact us for guidance.

How to answer the next question

Important – how these values are used

The Industrial Special Risks (ISR) policy responds based on the insured limit you select, not the individual values entered below.

You may be asked to enter separate replacement values for:

• Buildings
• Contents, stock, plant, equipment, fixtures and fittings

These figures are used to:

• Identify your true replacement exposure, and
• Assess whether the insured limit selected is adequate

Entering higher replacement values does not automatically increase the amount insured.

"$100,000 cover only"
Selecting this option confirms the total insured limit for the location is $100,000, regardless of higher values entered elsewhere in the form.

If the replacement values you declare exceed the insured limit selected, the Shed may be considered underinsured. In the event of a claim, this can result in the claim settlement being reduced in proportion to the level of underinsurance.

Buildings included
If you confirm the declared amount is intended to insure the building you operate from, the full building replacement cost must be included and considered when selecting the insured limit.

Please note
Where there is a material difference between the insured limit selected and the replacement values declared, we may need written confirmation from the committee before insurance can proceed.

If you are unsure, pause here and review your values before continuing.

Estimated Costs for Additional Industrial Special Risks Coverage:

For Sheds seeking higher coverage limits under Industrial Special Risks, the average national cost is approximately $436.00 for every $100,000 of coverage.

For instance, if a Shed opts to insure assets with a Total Declared Value of $200,000, the average additional cost would be around $872.00.

Please note these figures are indicative estimates and may vary based on individual circumstances. They should not be considered as a formal quotation but rather as a general guide for planning purposes.

Health & Safety Risk Management

The following section is used to identify the risk management protocols your Shed has in place to identify and remove risk.

Associations & Committees generally owe an obligation to provide and maintain a safe, healthy working environment.

‘Risk management’ is a formal and structured process of identifying and managing risk.  It involves assessing and then actively managing a Sheds potential exposure to injury, loss, damage, or litigation.  

Effective practical strategies for reducing risk, such as safety protocols and security devices, can work together with insurance to reduce risk exposure.  It is important to employ these protocols as a first step, before relying on insurance coverage.

Basic risk management steps

• Identify each risk with a thorough analysis of the association's operations, activities and business. 
• The association needs to decide how to manage risks by determining the likelihood of a risk occurring against the potential consequences.  For example, an association may choose to remove the risk by not continuing with a particular activity or determine existing controls are satisfactory as the impact would be very minor and it is extremely unlikely to occur.
• Treat risks by considering any existing risk control measures (eg management procedures, training, warning signs), deciding whether the existing measures are adequate and considering any additional measures that may be required.
• Monitor and review the process on a regular basis.  It is important to regularly review if there has been any change in the association's risk position and, if necessary, repeat and review the process set out above.

Policies & Induction

AMSA has developed the following document to assist you craft and develop your own risk management strategies. We recommend you review, adopt and tailor this to to suit your individual shed circumstances.

• Complete Health & Safety Manual

Please also refer to the Australian Institute of Health & Welfare document relating to DIY Injuries

Please review the following before answering the next question:

Select the option which best reflects your Shed’s position:

Yes
Select Yes if your Shed has a documented procedure confirming:

• A Working With Children Check (WWCC) is required where child related work is undertaken or where legislation requires one
• WWCCs are held before activities commence
• WWCC details are recorded and monitored

  This applies even if working with children occurs infrequently.

Not applicable to our Shed
Select Not applicable if your Shed does not undertake child related activities and has no circumstances where a WWCC would be required under state or territory legislation.

No
Select No if your Shed does not have a documented procedure in place.

Authorisation & Declaration
I the undersigned, after inquiry of the committee, declare as follows:

• I, as recorded in the meeting minutes, am authorised by the committee to make this Proposal
• I have read and understood the Notice to the Proposed Insured 
• I have read this Declaration; and, acknowledge the contents of same to be true and complete
• I understand; up until a contract of insurance is entered into, we are under a continuing obligation to immediately inform your Insurer and Everest Risk Group Pty Ltd of any change in the particulars of statements contained in this Proposal or in the accompanying documents
• I understand Everest Risk Group and Insurers reserve the right to request further information in relation to this application prior to acceptance for the AMSA Insurance Package 

Although the signing of this Proposal does not bind the Applicants to effect insurance, the Applicants acknowledge that the particulars and statements contained in this Declaration and in the accompanying documents shall be the basis of the contract should a Policy be issued; and further, the Applicants acknowledge that the Proposal and the accompanying documents will be incorporated in the Policy.