Any business or organisation looking for an alternative to traditional insurance.
As business becomes more complex in an increasingly uncertain and rapidly changing world, so does insurance.
Just as priorities can change in business, so can an insurer’s appetite. And through no fault of your own, your business faces higher insurance rates, a lack of capacity and more stringent terms and conditions – resulting in less control of your economic cost of risk.
This can be the reality of traditional insurance. With alternative risk financing, it doesn’t have to be this way.
A Discretionary Trust can be an alternative and innovative risk financing structure for those seeking to take control over your own risk financing plan by either pooling together risk with others or forming your own facility.
The discretionary trust framework allows members to contribute funds for working losses to a trust arrangement, independently administered by an ASIC licensed Trustee.
As a member of a Trust, you can enjoy potential cost savings, consistent pricing, wide protection and the potential return of surplus funds at the end of a good claims year.
Trusts are purpose built from the ground up with coverage and product innovation tailored to your needs. You set the level of control, type of risk covered, level of cover deductible levels and limits.
This means Trust members can enjoy potential savings, consistent pricing, wide protection, and the potential return of surplus funds at the end of a good claims year.
Pioneered and provided through JLT Risk Solutions, you can experiece the power of group purchasing by either pooling together risk with others or forming your own facility. Discover benefits far beyond traditional insurance as the JLT Risk Solutions team help you define a new path for protecting your organisation or community.
Since 1986, JLT Group Services Pty Ltd has managed over 80 arrangements for organisations across 12 different insurance lines. Through JLT Risk Solutions, Marsh currently protect over 400,000 members within 45 Trusts.
"There are significant benefits to be derived from participating in a Mutual Discretionary Fund, as opposed to dealing with a traditional market place insurer: the personal one stop shop approach, so you know who you are dealing with each and every claim, and the built in flexibility where the Trustee is able to realistically apply a level of actual discretion. In recognising that there may be circumstances where the Policy, in reality, does not cover the entire loss, it is possible that if it is in the best interests of the scheme and its members that cover may be extended to provide the best outcome in a particular situation."
Speak to your broker today or contact a member of the Alternative Risk Solutions team to model if a Discretionary Trust would be of benefit to you.
LCPA 22/076.
What is a Discretionary Trust?
Any business or organisation looking for an alternative to traditional insurance.
Currently cover is only provided for Australian Businesses and organisations.
Property, Motor, Marine, ESG, Personal Accident and Illness, Cyber and Crime.
The concept of self-insurance is similar to a Discretionary Trust, however a Trust provides a legal framework for managing member contributions and the consideration of all claims.