Balens insure a large number of gyms, health clubs, fitness
centres, spas, salons, leisure centres
and other businesses for their assets and Liabilities
throughout the UK and Republic of Ireland. We have a variety of
packages available with extremely wide cover and competetive
premiums.
Depending on your size and individual requirements, a protection
plan with risk management advice can be customised to your
requirments. Below are some points for consideration. Please
contact us for more information or a quotation.
Commercial Combined policy
Can cover buildings, contents, fixtures for such perils as: fire,
storm, flood, burst pipes, lightning, malicious damage, theft etc.
money insurance, loss of profits various liabilities, legal
expenses. Terrorism is now not included but can be bought back for
an additional premium.
In summary, this type of policy offers a variety of sections
available under one wrapper, customisable to your individual
business requirements, with options to pay monthly.
Buildings Insurance
Covers perils as briefly described in Commercial Combined Policy
above with the option to include subsidence plus property owners
liability, (see Balens glossary for explanation of the
various liability covers). Not normally required where you are a
tenant or leaseholder.
Contents Insurance
As above but concerned with items other than the structure of the
building and also things that you would normally take with you if
you moved. Can include Equipment, Tenants Improvements to the
buildings, Goods in Trust, Employees Personal Effects, Stock,
etc. Cover can be increased to include Accidental Damage-
i.e. breaking, staining, and other damage not specifically stated
in the list of perils supplied by the insurer concerned.
Professional Liability Insurances
Treatments, Fitness Classes and Advice, Nutrition Lifestyle
Advice all pose a vulnerability to you being sued-
Balens have developed a specialist cover for this with a uniquely
comprehensive wording. Please see other areas of our website
on this topic.
Public Liability Insurances
This covers liability at law for causing injury to other people
(not necessarily clients/patients) or for damage to their property,
provided that no treatment or advice was the reason for the
incident. "Trip and Slip" situations come under this
protection.
Employers Liability Insurance
This covers the Employer for injuries sustained by any employees
or work experience assistants. This cover is a legal requirement
where staff are employed staff and the employer's liability
certificate needs to be displayed in the workplace by Law. Self
Employed People are not usually covered by this.
Products Liability Insurance
This covers the business for any defect in Health or
Wellbeing products as well as food and drink sold, supplied
or demonstrated to the customer or client, which may cause injury
or damage. Even if the business did not manufacture the item
concerned and innocently passed it on, under EEC directive, the
Consumer Protections Act etc., it will still be initially held
liable. i.e.. the last to pass on a product in a chain of
supply will be held liable.
Money insurance
This covers loss or damage anywhere in the UK for travel to and
from the bank- e.g. takings, wages and in the premises for the
usual insured perils during business hours. Out of business
hours cover reduces significantly unless money and credit card
vouchers etc are kept in an approved locked safe. Some cover also
is extended to an employees or director's house outside business
hours. Personal Assault is also usually covered. Shortages and
theft by employees cover may be very restricted.
Loss of profits insurance, Business Interruption
(B.I.)
B.I. keeps the profit coming into a company if it can't trade due
to a fire etc., particularly where a business is dependant on the
building for its regular income e.g. a shop, warehouse, factory, or
rented premises for property owners.
If you could quickly set up somewhere else and trade and may not
lose income as a result, you don't really need Business
Interruption cover, but should at least have Increased Cost of
Working (ICOW) cover. This just pays the additional costs caused by
the claim, including the main one of finding somewhere else and
paying for it (lease and rents will carry on even if a fire has
destroyed the building and you still have got to pay for somewhere
else as well). There may be additional costs for getting extra
staff, phones, etc.
The Insured period is usually based on 12 months expenses or
Loss of Profit but can be based on a longer period, if for example
the damaged building is listed or may for various other reasons
take a lot longer and more money to repair/rebuild.
Directors and officers (D & O)
This covers the Financial Risks arising from the operation of a
Limited Company or Charity, where there are Directors, Trustees or
Council Members overseeing the operations of the
organisation. They can be held personally responsible for
losses arising from Breach of Fiduciary Duty, negligence,
Mismanagement or Dishonesty causing Financial loss, various
breaches of the Law. Can be extended to include Advice, Errors and
Omissions, and may further extend to include Public Liability and
Product Liability.
Commercial Legal Expenses
Any Business can incur expenses and be vulnerable under the laws
of the land. There are a bewildering amount of laws governing the
operation of a Business, whether Limited or Private. A legal
expenses policy offers a wide range of support, information and
cover for a range of legally related issues that can arise in the
day to day running of a firm.
- Criminal Allegations Defence
- Data Protection Laws
- Discrimination Laws
- Health and Safety Laws
- Inland Revenue Investigation & VAT
- Contract Disputes
- Debt Recovery Services
- Employment Tribunals
- Employers Advice Lines
Employment practices liability - EPL
This covers costs and awards in the event of employee tribunals
and other litigation and expenses in connection with employee
issues. They typically are extensions of Commercial Legal
Expenses policies or Directors and Officers/Professional Indemnity
Covers. EPL is more expensive and more comprehensive than cover
afforded under a Commercial Legal Expenses Policy.
Employee Benefit Schemes
You may also need financial advice to protect the business
leaders, key persons and offer benefits to staff such as:
- pension scheme
- life and sickness covers
- private health insurance
H & L Balen can provide this in the UK- please see the other
relevant sections of our website.
