Changes to insurance scheme

LCA Insurance is undergoing changes aimed at improving its insurance program, strengthening its sustainability into the future and keeping costs as low as possible.

LCA Insurance and Risk Manager Lucinda Osborne said, with these goals in mind, it had set up a Discretionary Aggregate Deductible Fund (DADF) to manage property insurance for congregations and LCA agencies. ‘In simple terms, this means we put an amount into a trust to pay claims and only purchase insurance over and above this amount to pay for claims when and if we exhaust our trust funds’, she explained. ‘If we don’t exhaust our trust funds, then we can build these funds to do further work to ensure we can maintain our insurance costs at a reasonable level into the future. At this stage, this is only for our property insurance, but it could lead to bringing in more of our insurance classes in the future.’

Members who have questions after receiving an invoice for their contribution to the LCA Insurance program, can contact the LCA Insurance team via their website at LCA Insurance or at insurance@lca.org.au