Retail Drinks Australia has announced the competitive pricing for members in its Business Insurance Program will be maintained until 1 December 2022.
The organisation has noted that while annual policies are due for renewal later this week, rates will not rise until December, meaning further savings for members in what is one of Retail Drinks’ most popular and successful member service programs.
CEO, Michael Waters, said the Business Insurance Program is run exclusively for Retail Drinks members through risk and insurance partner, Aon, and is dedicated to providing enhanced cover and competitive pricing for members.
“For members in the Program, annual policies are due for renewal on 30 September 2022. Our recent Annual Insurance Market Update signalled premium increases of 20 – 30 per cent over the next 12 months, off the back of similar increases last year,” Waters explained.
“Despite this, Retail Drinks has been able to maintain cover at the same competitive pricing for members in our Business Insurance Program, meaning no increase to property and liability rates until 01 December 2022, which is significant!
“Based on like for like policies and inclusions, this could represent a saving for members of between 20 per cent and 40 per cent, as a recent analysis of seven competitors quoted premiums ranging from around $10,000 to as high as $18,000 – members currently in the Program are paying an average of around $4,500.”
For those not currently in the Program, Retail Drinks said it’s not too late to access potential savings and better coverage. Obligation free quotes are available for those that contact Retail Drinks prior to the 1 December 2022 cut off date.