NIBA / Special Feature
Minimising and controlling risk is an inherent part of a broker’s daily life, but the prospect of risk – albeit of the fundamentally safe and well-managed variety – is a key selling point in the adventure tourism industry. Thrillseekers and adventurers are naturally drawn to this form of tourism, and for insurers, underwriters, and brokers, it’s traditionally been a complex area to navigate. “We’re pretty much an unregulated industry, and that has brought with it the misnomer of ‘there’s nothing we need to follow, so we’ll just follow our own rules’, which causes a lot of complexities when it comes to insurers,” says Lori Modde, CEO of Outdoors NSW & ACT and Deputy Chair of the NSW Tourism Association. The Australian Activity Adventure Standard, which was released in 2019, provides a ‘framework’ for adventure tourism operators to work to, and Modde describes it as ‘the best thing we have in this country for the adventure tourism sector’.
“It enables adventure tourism operators to show that they’re doing the right thing, demonstrate compliance, and show the systems and processes they have in place to manage risk.” To help develop the sector further and realise the huge possibilities within reach, Modde has been working closely with Greg Shallard, Portfolio Manager – Equine and Tourism at Affinity Insurance Brokers in Cheltenham, Victoria. That relationship was formed through Affinity Insurance Brokers’ (part of the Aon Group) proactive work with industry associations and together they’ve spoken to a number of key stakeholders, including the likes of Australian Government Departments, Treasury and AusTrade, Tourism Associations and Agritourism Tasmania, to help educate businesses on how they can take more ownership of the insurance journey. “We’ve talked to them about how they shouldn't be using a broker for a transactional relationship – they should be using them as a core part of their
business to provide trusted advice,” explains Shallard.
“It all goes back to that notion similar to that of having a lawyer and an accountant you trust innately to support your business.” Of course, that trust is built on a two-way street, and that’s where expertise comes firmly into play. Adding Value in Tourism As a broker, you need to add value to clients’ businesses in the form of genuine sector expertise, and Shallard believes in areas such as adventure tourism this is essential. “If I get a call about mining insurance, I pass on that opportunity to another broker because my specialty is in adventure tourism, camping, and the equine sector,” he says. And that specialisation and proactive approach is in demand, says David Smyth, founder of NSW-based Forward Travel,
54 / INSURANCE ADVISER OCTOBER 2025
Made with FlippingBook Digital Publishing Software