Over the last couple of months we have seen a significant change in the landscape for gym insurance. We have seen a number of providers leaving the Irish market along with a few providers no longer willing to write new business for gym premises. The end result could have a significant impact for gyms across the country.
Our advice to you if you are a gym owner?
Be proactive rather than reactive……………….
We work closely and communicate with our gym clients on a regular basis to ensure that we have a thorough understanding of their gym insurance requirements at the quotation stage and during the course of the policy.
Gym Insurance we can Provide?
– Liabilities (Public & Employers liability)
– Premises and Assets (Property Damage, Loss of Contents, Equipment, Money)
– Business interruption (Loss of Revenue/ Profits including Additional Costs & Expenses)
What insurance underwriters look for?
Leisure Insurance underwriters have more of an appetite towards those business owners that can show good risk management consideration and can provide appropriate risk assessments, health and safety training and participant health and consent records. Typically these will be conditions / endorsements present on all gym insurance policies. Gym’s by their nature are usually busy at certain periods of the day and accidents can and do happen. Failure to comply with gym insurance endorsements could result in claims not being paid.
What can you do as a gym owner?
- Important to show experience and expertise in the day to day running of your gym.
- Build up a claims free insurance record.
- Have the appropriate gym forms in place and signed prior to use ( Participant Health Declarations, Risk acknowledgment & Consent forms)
- Ensure that you have the appropriate signage in place detailing the rules, use of equipment, restrictions, supervision etc?
- Make sure that the equipment in the gym is maintained in line with the manufacturers guidelines.
The most important thing about the above 5 points is that you have them documented and stored as it will be your obligation to be able to produce supporting documentation in the event of a claim.
If you would some more information in relation to gym insurance please don’t hesitate to contact a member of our commercial team today 01-6674985