BHS in Industry concern over Riding School insurance premiums
The British Horse Society (BHS), ABRS and representatives
of the insurance industry met Defra minister Alun Michael
today (15 July) to discuss the increasing burden of insurance
premiums falling on equestrian establishments.
BHS Chief Executive Graham Cory told the minister that, in
an industry operating on such tight margins, premium hikes
can mean the difference between solvency and failure. And
if riding schools continue to decline in number then eventually
this will deprive the UK of top-level competitors.
The BHS acknowledges that the number and size of claims has
increased in recent years, leading to a reluctance on the
part of underwriters to take on equestrian business. However,
the equestrian and insurance industries were confident that
better risk management could have a significant effect on
constraining premiums.
The two sides agreed to convene a working party, with Defra's
assistance, to urgently identify practical measures to manage
risk and thereby reduce the pressure on hard pressed riding
schools.
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