Extra Risks Cover – Excess increase, rates reduced.

From 1 July 2021, RMS has increased excess amounts and reduced contribution rates for Extra Risks Cover.


Extra Risks cover is a special cover that responds when equipment is accidentally damaged (such as being dropped); or lost or stolen when taken outside of a secure building or offsite to another location.

Over the last few years, RMS data indicates a noticeable trend in the increased frequency of claims under the TLC (Tablets, Laptops and Computers) Extra Risks Cover. Our investigations indicate that risk mitigation strategies to prevent accidental damage or theft of these items was rarely, if at all, employed by sites reporting regular losses.

For sites that adopt effective risk mitigation to prevent loss, RMS would like to express our sincere appreciation for your efforts in saving your Adventist organisation the cost and inconvenience that frequent claims cause.


EXCESS CHANGES – Effective 1 July 2021:

­The increase in excess amounts will impact Adventist entities that claim regularly against the Extra Risks policy. Our advice to those sites is to contact us to discuss loss prevention strategies that can help reduce the frequency of claims.

An excess applies to each separate loss event below are the changes to excess amounts:

  • The excess is 10% of the loss value subject to a minimum of AUD$500 / NZD$500 (previously $100); and maximum of AUD$1000 / NZD$1000 (previously $500).
CONTRIBUTION RATE CHANGES – Effective 1 July 2021:

The good news for all Adventist organisations is that we have been able to provide a reduction in contribution rates this year, as follows:

  • Blanket Cover reduced to 1.5% (previously 1.8%)
  • TLC Cover reduced to 1.0% (previously 1.3%)
  • Specific Cover reduced to 1.0% (previously 1.3%)
  • Specific Cover – Mission Vessels (AU) reduced to 2.0% (previously 2.5%)
  • Temporary Cover reduced to 1.5% (previously sliding scale of between 1.0% – 2.5%)

Together, these changes are estimated to save Church organisations about $90,000 per year.

We would strongly encourage you to read the Extra Risks Factsheet for more detailed information about Extra Risks Cover so that there are no surprises.

Feel free to call us if you have any questions or need further clarity, the RMS team is always ready to help.