Royal Automobile Club of Victoria
Encyclopedia
The Royal Automobile Club of Victoria (RACV) is a motoring club and mutual organisation
, providing services such as roadside assistance
, vehicle
, home
and contents
insurance, personal and car loans, driving instruction, tourism services and home security products.
The RACV runs a lifestyle club known as the RACV Club, with locations in the Melbourne
CBD and at Healesville
. It operates 4 resorts in regional Victoria and 2 in Queensland, on the Gold Coast
and at Noosa
. It also produces a monthly magazine for members which covers travel destinations in Victoria.
in 1904. .In 1916, it received the approval of His Majesty the King to prefix the title "Royal" to its name..
RACV is a member of the Australian Automobile Association
which has member organisations in each state and territory of Australia.
RACV was a founder of insurance brand AAMI (previously known as Club Motor Insurance and now owned by Suncorp-Metway
), and both companies are now major competitors in the insurance market in Victoria with RACV's business venture with rival Insurance Australia Group
.
to the approximately 2 million members and to its interstate and international affiliates.
. The City Club was redeveloped in 2005. The Healesville Country Club was redeveloped in 2009, with facilities matching those of the prestigious City Club.
The registered office is located in the CBD
of Melbourne
, with its main service headquarters in the south-eastern suburb of Noble Park
.
RACV is an unlisted public company limited by guarantee headed by a board of directors
. The Board comprises 15 independent non-executive directors and 1 managing director and CEO. The non-executive directors are elected to three year terms by two different classes of members: Ordinary ('Club') members who number more than 27,800 and who can vote for all 15 of the non-executive directors, and roadside service members who have purchased emergency roadside assistance and number approximately 2 million but can only vote for 6 specific non-executive directors and consequently have less representation at board level. A third large group of non-voting 'relationship' members was created in 2006 when customers with renewable products such as insurance, home security and personal loans were offered 'membership'.
Mutual organization
A mutual, mutual organization, or mutual society is an organization based on the principle of mutuality. Unlike a true cooperative, members usually do not contribute to the capital of the company by direct investment, but derive their right to profits and votes through their customer relationship...
, providing services such as roadside assistance
Breakdown cover
Breakdown cover is a service that provides assistance to motorists whose vehicles have suffered a mechanical failure that is significant enough to leave them stranded at their present location....
, vehicle
Vehicle insurance
Vehicle insurance is insurance purchased for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise therefrom...
, home
Home insurance
Home insurance, also commonly called hazard insurance or homeowner's insurance , is the type of property insurance that covers private homes...
and contents
Contents insurance
Contents insurance is insurance that pays for damage to, or loss of, an individual’s personal possessions whilst they are located within that individual’s home...
insurance, personal and car loans, driving instruction, tourism services and home security products.
The RACV runs a lifestyle club known as the RACV Club, with locations in the Melbourne
Melbourne
Melbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The Melbourne City Centre is the hub of the greater metropolitan area and the Census statistical division—of which "Melbourne" is the common name. As of June 2009, the greater...
CBD and at Healesville
Healesville, Victoria
Healesville is a town in Victoria, Australia, 52 km north-east from Melbourne's central business district. Its Local Government Area is the Shire of Yarra Ranges...
. It operates 4 resorts in regional Victoria and 2 in Queensland, on the Gold Coast
Gold Coast, Queensland
Gold Coast is a coastal city of Australia located in South East Queensland, 94km south of the state capital Brisbane. With a population approximately 540,000 in 2010, it is the second most populous city in the state, the sixth most populous city in the country, and also the most populous...
and at Noosa
Noosa, Queensland
The Shire of Noosa was a Local Government Area located about north of Brisbane in the Sunshine Coast region of South East Queensland, Australia...
. It also produces a monthly magazine for members which covers travel destinations in Victoria.
History
The Automobile Club of Victoria was founded in 1903, and it held its first car rally at Aspendale Park RacecourseAspendale Racecourse
Aspendale Racecourse or Aspendale Park Racecourse was a horse racing and motor racing track located at Aspendale, Victoria, Australia.Aspendale Racecourse opened on 14 April 1891...
in 1904. .In 1916, it received the approval of His Majesty the King to prefix the title "Royal" to its name..
RACV is a member of the Australian Automobile Association
Australian Automobile Association
The Australian Automobile Association was established in 1924; it supports and coordinates the activities of its constituent motoring clubs, and aims to represent the interests of Australian motorists both nationally and internationally....
which has member organisations in each state and territory of Australia.
RACV was a founder of insurance brand AAMI (previously known as Club Motor Insurance and now owned by Suncorp-Metway
Suncorp-Metway
Suncorp Group Limited is an Australian finance, insurance, and banking corporation based in Brisbane, Queensland, Australia. It is one of Australia's largest banks and its largest general insurance group, formed on 1 December 1996 by the merger of Suncorp, Metway Bank and the Queensland Industry...
), and both companies are now major competitors in the insurance market in Victoria with RACV's business venture with rival Insurance Australia Group
Insurance Australia Group
Insurance Australia Group Limited is an Australian publicly-listed company with its shares traded on the Australian Stock Exchange as ....
.
Services
- Roadside assistance – breakdown assistance and other motoring products
- Driver Training
- Finance – car and personal loans
- Insurance – home, contents, car, motorcycle, boat, caravan, travel, farm and business insurance
- Home Assistance – home security systems and emergency home assistance
- Tourism and Travel – maps, venue ticketing, travel guides
- Shops – a network of retail outlets to deliver RACV products and other merchandise
- RACV Resorts - offering impressive facilities in stunning locations
Roadside service
RACV provides a roadside service across VictoriaVictoria (Australia)
Victoria is the second most populous state in Australia. Geographically the smallest mainland state, Victoria is bordered by New South Wales, South Australia, and Tasmania on Boundary Islet to the north, west and south respectively....
to the approximately 2 million members and to its interstate and international affiliates.
Motorist advocacy
RACV conducts advocacy activities, campaigning on behalf its members and the general public on issues such as roads, vehicle standards and safety.Lifestyle club
The RACV Club is the RACV's lifestyle club offering social, recreational and business facilities to Club members. It has locations in the Melbourne CBD and HealesvilleHealesville, Victoria
Healesville is a town in Victoria, Australia, 52 km north-east from Melbourne's central business district. Its Local Government Area is the Shire of Yarra Ranges...
. The City Club was redeveloped in 2005. The Healesville Country Club was redeveloped in 2009, with facilities matching those of the prestigious City Club.
RACV Resorts
All RACV members (both Club and Roadside Service Members) are provided with access to RACV Resorts, offering facilities in various locations throughout Victoria and Queensland. These resorts include Cape Schanck Resort on the Mornington Peninsula, Cobram Resort in the Murray River region, Inverloch Resort located on South Gippsland’s Bass Coast, Torquay Golf Club on the Victorian Surf Coast, Royal Pines Resort on the Gold Coast, Queensland and Noosa Resort on the Sunshine Coast, Queensland.RoyalAuto magazine
The RACV has produced a monthly magazine called RoyalAuto for RACV members since 1953. It has an audited circulation of around 1,470,000 copies. A typical issue includes an article on transport policy, a letter from the president updating readers on the RACV's latest campaigns, two or three interviews with regular and high-profile Victorians, five or six travel articles about places to visit by car and two or three reviews of new cars on the market.Corporate
Central business district
A central business district is the commercial and often geographic heart of a city. In North America this part of a city is commonly referred to as "downtown" or "city center"...
of Melbourne
Melbourne
Melbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The Melbourne City Centre is the hub of the greater metropolitan area and the Census statistical division—of which "Melbourne" is the common name. As of June 2009, the greater...
, with its main service headquarters in the south-eastern suburb of Noble Park
Noble Park North, Victoria
Noble Park North is a suburb in Melbourne, Victoria, Australia, 26 km south-east from Melbourne's central business district. Its Local Government Area is the City of Greater Dandenong...
.
RACV is an unlisted public company limited by guarantee headed by a board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
. The Board comprises 15 independent non-executive directors and 1 managing director and CEO. The non-executive directors are elected to three year terms by two different classes of members: Ordinary ('Club') members who number more than 27,800 and who can vote for all 15 of the non-executive directors, and roadside service members who have purchased emergency roadside assistance and number approximately 2 million but can only vote for 6 specific non-executive directors and consequently have less representation at board level. A third large group of non-voting 'relationship' members was created in 2006 when customers with renewable products such as insurance, home security and personal loans were offered 'membership'.
Subsidiaries and investments
- Australian Motoring Services - 24% (joint venture with Australian automobile clubs)
- Club Assist – 25%
- Direct Salary Packaging - 100%
- Intelematics Australia – 100%
- Insurance Manufacturers of Australia – 30% (joint venture with Insurance Australia GroupInsurance Australia GroupInsurance Australia Group Limited is an Australian publicly-listed company with its shares traded on the Australian Stock Exchange as ....
owning other 70%) - R.A.C.V. Finance - 100%