The Institute for Outdoor Learning (IOL) and the Activities Industry
Mutual pursue very similar objectives, namely:
To work for continued and improved public confidence in the
adventure activities industry.
To recognise, establish and promote good standards in the
provision of adventure activities, understanding that to achieve
this requires an investment by adventure activity providers in i)
staff, ii) continuing professional development, and iii) systems
To promote good risk management in the adventure activities
industry and better management of the outcomes of incidents and
To manage the adventure activities industry’s reputation for the
provision of truly adventurous and developmental experiences while
ensuring appropriate levels of cost for liability cover.
Both believe that a closer working relationship will help achieve
What is the Activities Industry Mutual?
AIM provides its Members with protection against liability and business
risks. It was set up in 2001 specifically to cater for the needs of the
Adventure Activities industry in the UK.
It is important to note that AIM is not a commercial insurance company
but rather a hybrid mutual bringing its members together in a way that
allows them to capitalise on their collective strength and group buying
power. AIM does this in two ways, firstly it creates a pool of funds
that enables it to settle relatively low level claims on a discretionary
basis. AIM then also purchases supporting insurance with Lloyds of
London to ensure the pooled funds cannot be exhausted by an adverse
claims experience and that large claims benefit from the security of A
rated insurance protection.
This structure enables AIM to provide cover that is comprehensive and
affordable whilst also mitigating against the sometimes detrimental
features of the commercial insurance market.
AIM is not a charity but its sole purpose is the provision of service
and support to its members. It is owned by its members and any surpluses
it makes are retained for the benefit of those members rather than being
paid away to third party shareholders.
AIM also arranges contracts of insurance for individual Members as
needed, much like a regular insurance broker.
AIM is run by a Board of Directors drawn predominately from the Mutual’s
Membership. The Board has engaged a firm of professional mutual
managers, Regis Mutual Management Limited, to carry on its day to day
Some of the products and services provided by AIM are regulated by the
Financial Conduct Authority of FCA (previously the FSA).
IOL Regulatory Status
The IOL has been appointed as an
introducer appointed representative of Regis Mutual
Management Limited. The appointment means the IOL can introduce its
members to Regis and distribute certain promotions about AIM products
and services from time to time.