AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Alloy Personal Training Business
Navigating Risk and Liability in the Fitness Industry - Insurance Insights with Ken Reinig
Dec 27, 2023
20:53
Snipd AI
Insurance expert Ken Reinig discusses risk management in the fitness industry, importance of specialized insurance and a tiered approach to coverage, negotiating insurance requirements in leases, role of insurance in the fitness industry, impact of recent events on rates, and a shoutout to Britney from Alloy franchisees for her expertise in liability insurance.
Read more
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Risk management is crucial in the fitness industry and involves protocols, written procedures, and accountability to protect the business.
- Insurance costs for fitness businesses have increased by approximately 12 to 15%, so it is important to work with experienced insurance specialists to manage expenses effectively.
Deep dives
Importance of Risk Management in the Fitness Industry
One of the key points discussed in the podcast is the importance of risk management in the fitness industry. Risk management is described as a preventative education concept that involves teaching staff members about protocols such as incident reporting, handling sexual harassment cases, and managing child safety. The podcast emphasizes the need for written protocols and accountability to protect the business. Engaging with an insurance specialist early on, preferably before signing a lease, is recommended to negotiate lease requirements and potentially save on insurance premiums. The podcast also highlights the availability of tools, resources, and testing mechanisms provided by insurance professionals to ensure business owners are well-informed and protected throughout the process.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode