Complying With Your Insurance Carrier Provider Should Not Be A Costly Facility Safety & Risk Expense
This past year, many of our sports and recreation, health and fitness club clients when applying for first-time or renewal insurance coverage, noted to us that insurance provider companies nationwide are placing a greater emphasis on their client’s ‘best practices’ particularly to the growing importance of facility operators maintaining an ongoing club member safety and risk management plan applicable to the U.S. Sports and Fitness Club ecosystem.
As a result, this growing trend is now becoming an integral part of their policy application and approval process with particular focus targeting fitness-oriented clubs and gyms.
This is even more evident when our facility clients operate on a 24/7-member (key card) access basis or when their members have access to workout facilities ‘off-hours’ and without the added benefit of on-site staff supervision.
In this post-Covid era, sports and recreation, gym, and fitness clubs continue to enjoy year over year rising member participation levels. As a result, insurance provider companies active in this space are becoming more sensitized to the potential downside implications due to this historic growth in member participation rates and to the resultant rise in more customized programming, amenities, and new or expanded facilities-built outs.
As the insurance industry foresees the implied and somewhat inevitable negative and costly consequences (financial and otherwise) to both the insurer and the insured as a byproduct related to the trends detailed above, insurance providers are addressing cost-effective ways to benefit both parties by helping to decrease, even mitigate the ‘loss’ directly caused by the associated increase in on-site member accidents and injuries, health-induced medical events, personal safety threats and harassment, facility security breaches, property fire and other related 911 emergency responder type events.
This positive new approach to safety and risk loss mitigation has been aided by another emerging trend within the insurance carrier industry. Today we find more nationally recognized insurance providers forming their own Sports Club divisions to more effectively serve their client portfolios (focusing in part on loss mitigation) by developing more uniform and universally accepted guidance and compliance protocols coupled with qualifying benefits to receive additional premium rate incentives.
As a matter of fact, we are also discovering an emerging insurance industry growth category via the formation of online and web app-based insurance providers specifically servicing sports and fitness facilities and as an extension customized policy coverage for dedicated athletes, organized leagues and teams.
The positive news in all of this for facility operators is that insurance compliance, though more nuanced today, can still be achieved at an affordable cost for facilities both big and small. One of the key reasons for this is the universal adoption by insurance carriers to promote safety and risk loss mitigation via the deployment of Emergency and Medical Alert Systems and wearable devices within these active, high-risk member environments.
Although these very same insurers do not specifically recommend third-party emergency system providers or vendors to their clients, operators will soon discover through their own due diligence online, there exists a robust nationwide industry of system providers and a network of monitoring centers (primarily serving the U.S. senior residential market) of which Fitness Club Alert Systems is a dedicated and leading member.
These on-site emergency monitoring and response systems are readily accessible, very affordable, quick to ship and deliver, and easy to use by both members and their guests as well as onsite staff. Owners and operators alike are quick to realize these ‘mandated’ systems satisfies both the requirements of the clubs member safety and risk plan as well as the insurance provider’s guidance and policy compliance whilst bolstering membership sales, referrals and retention.
Importantly for budget-minded club owners, system lease plans are normally bundled to a single monthly, quarterly or annual rate that includes all system equipment and wearable devices, 24/7 ‘central station’ monitoring and live operator 911 dispatch responder services, full warranties and replacement, and direct access to reliable client care support.
For example, Fitness Club Alert Systems provides all-inclusive (bundled) subscription-based lease plan rate options offered at $35 per month for a landline or a cellular network connection-based system; and $45 for a stand-alone, mobile 2-way voice wearable smart watch device. We encourage complimentary consultations with prospective club clients to ensure the most suitable insurance-compliant system and affordable rate plan option.
Lest we not forget the end-user, another key benefit to club operators is that valued members, guests and staff also reap the benefits of such an emergency response and dispatch system. With early adoption due to ease of use and the attractive, non-intrusive wearable help button device options, members can feel more secure and confident in their club interactions whilst knowing their recognition by management is a daily and ongoing member safety and risk priority.
Contact me Today for your Free Phone Consult: 475-257-1243
Scott Hazlewood, Founder & CEO