PAA Member Insurance Program - BMS Annual Renewal Report
While the COVID-19 pandemic forced the full closure of many Pilates studios over the course of 2020, the PAA were quick to act at the start of the pandemic, engaging our insurance broker BMS to discuss ways to offer hardship support to members.
Positively, BMS were able to negotiate with our Insurer a three-month policy extension for nil cost to PAA or members. Low claims historically enabled our Insurer to look upon the program favourably and assisted their ability to sign off the policy extension.
Member Insurance Program Renewal 2021-22
The 2021-22 PAA member insurance program renewal terms have been confirmed via BMS and we are happy to share with members that there has been no change to the policy coverage provided in the past.
You may notice that the pricing has changed slightly at your next insurance renewal via the PAA member portal. After three years without a change, a $5 base premium increase this year was warranted to ensure continued sustainability of the insurance program.
BMS were instrumental in negotiating this small premium increase for the coming term. The PAA consider it an excellent result in the current insurance landscape; even claim free programs are experiencing significant increases across the board.
The increase will come into effect for new purchases and renewals on Monday 12 April 2021.
If you have any questions about the insurance program please reach out to BMS via firstname.lastname@example.org
To find out more about the program please visit our insurance site at www.paa.bmsgroup.com