Another Australian sporting event has been cancelled because of the rising cost of insurance premiums, the Shadow Minister for Sport, Senator Lundy, said today.
“The Australian Speed and Marathon Ski Racing Championships, which was due to begin at Lake Jindabyne today, is unable to proceed because of the rising costs of insurance premiums.
“The annual premium for this event has reportedly risen by $300,000 to $1.2 million.
“Australian sporting events are experiencing a massive increase in premiums and a reduction in the number of insurance companies willing to offer public liability insurance.
“The Lake Jindabyne event is important to both the Ski Racing and the local community and the cancellation of the event is of concern.
“Sport Industry Australia has warned that, unless action is taken immediately, the rise in premiums will result in smaller sports being effectively closed down.
“The Howard Government must act immediately to address the rising costs of insurance and Labor will work with the Government to examine ways to ensure that sporting and recreational activities are not cancelled because of the high cost of public liability insurance”, Senator Lundy said.
Media Contact: Simon Tatz on 02 6277 3334 or 0418 488 295
