As a former rugby league player whose career was curtailed by a series of untimely injuries, Michael Woodlands (pictured) has firsthand knowledge of the importance of sports insurance.
“Sport, at all levels, is a massive industry in Australia,” the head of sport at Lockton Australia told Insurance Business. “Over eight million adults and three million children participate in sports each year in Australia, and it’s our role to support them through effective risk management and insurance, particularly in these difficult times.”
With more than 15 years’ experience across the sport, personal injury and insurance sectors, Woodlands joined Lockton in July last year from Employers Mutual Limited. Lockton has a presence in more than 125 countries and its global reach, independent ownership and innovative spirit were just some of the qualities that appealed to Woodlands.
“I saw an opportunity at Lockton to work with an experienced and market-leading employee benefits team while also growing the sports offering across the APAC region,” he said.
“We’re not just looking at traditional insurance offerings for sport – we’re working with other innovative companies to add value for all stakeholders involved in sport.”
Some of the ways in which Lockton is looking to add value include working with industry experts and health professionals on concussion protocols and how to improve mental health in athletes – the latter being a particular point of emphasis for professional sporting clubs, such as the NRL’s New Zealand Warriors, who have had to relocate for extended periods owing to COVID-19 travel restrictions.
“With COVID-19, the nature of risk has changed for all parties involved in sport,” Woodlands noted.
“After a challenging 2020, all sports are looking at ways to increase both revenue and participation moving forward, while still abiding by restrictions on player movement, spectator numbers and so on. This is why we’re working with athletes, sporting bodies and administrators across the region so that they can be more agile and flexible in their planning and in managing their related risks.”
This is particularly important given the hardening insurance market, Woodlands added.
“At a time when affordability of insurance is a challenge for a number of people, it is essential that athletes, clubs and governing bodies have accurate advice and guidance that they can trust,” he said.
Woodlands forecasts 2021 as a “big year for sports participation” in Australia.
“With broader travel restrictions in place, many people will be turning to sports, and the wider entertainment industry, as a much-needed outlet,” he said. “At Lockton, we’re focused on helping athletes and leaders across sport to be better prepared.”
