Insurance for Greenlife Industry

With the changing landscape of the insurance industry due to increase concerns around fire, flood, storms, pests and pandemics, the greenlife industry is experiencing increased risk aversion from insurance providers.

Greenlife Industry Australia (GIA) has been tasked with and is undertaking a review of insurance options for greenlife industry businesses with a view to formulating an insurance solution to benefit all member businesses.

The review has and will investigate the various options available through a number of insurance agents to the industry and will subsequently form a discussion paper for the GIA Board.

The terms of reference surrounding the paper will include insurance options currently available to the industry, the investigation of formulating a specific industry package that will cover all parameters of greenlife business including greenhouses / glasshouses and stock grown outdoors and, other insurance options such as Discretionary Mutual Funds (DMF) and Captive Funds.

During the investigation, consultation with specific member businesses and State Member Associations including NGIQ, NGINA, NGIV, NGIT, NGISA and NGIWA has been undertaken and will continue, to understand the current landscape of insurance offered to members and so that any existing arrangements are not affected in any way.

Once all investigation has been completed and various submissions received, the discussion paper with key findings will be presented to the GIA Board for review.

I will keep you all updated on the progress of our investigations as they occur.

If you have any queries, please don’t hesitate to contact me on 02 8861 5100 or email sonya.gifford@greenlifeindustry.com.au.