A good insurance program is important for any well-managed club. The idea behind insurance is very simple. You pay a fixed amount of money to avoid the chance of paying out a large amount of money in the future. Insurance also allows your club to budget for costs and eliminates the need to keep large reserves on hand just in case someone is injured. You’ll often hear the phrase ‘risk management’ used in insurance circles. Insurance experts recommend that your insurance program is based on a risk management analysis. This means you need to review your risks for liability or loss, reduce them where possible and insure for the risks that you don’t feel you can easily reduce.