Navigating Risk and Liability in the Fitness Industry - Insurance Insights with Ken Reinig

Insurance can feel like a labyrinth, but our guest on this episode makes it intriguing and fun.

He is one of the few insurance people you would enjoy listening to. He shares some wisdom from his 30 years in the insurance game.

In the fitness business, just like most other businesses, mitigating risks is non-negotiable. Ken and his assistant, Brittany, take us through the intricacies of risk management, emphasizing key points that underscore the need for specialized insurance tailored to the fitness industry.

They recommend a tiered approach, beginning with a general liability policy to meet landlord requirements, moving to a builder's risk policy during construction, and then converting the general liability policy to a completed club policy before the grand opening.

This systematic approach minimizes potential coverage gaps and optimizes protection for each phase of business development.

Tune in to learn more about this approach and risk management in the fitness space.

Key Takeaways

- Intro (00:00)

- Meet Ken Reinig (00:40)

- Risk management in a fitness business (02:53)

- When to engage a risk consultant (06:35)

- A tiered approach to managing risks (07:43)

- Insurance costs and trends (12:41)

Additional Resources:

Contact Ken at:

Website:TheInsuranceGuy.com

Email: ken@TheInsuranceGuy.com

Brittany’s email: brittany@TheInsuranceGuy.com

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