The landscape of allied health professions has changed in part due to the pandemic, especially the fitness industry. For decades, fitness has been viewed by many as simply fitter physical appearance and weight loss; however, the emergence of a pandemic altered the industry altogether and gave rise to a focus on overall nutrition, mental wellness and emotional well-being.
For example, online yoga instruction grew from 9% to 86%, and the entire yoga industry is expected to reach $215 billion global marketplace by 2025. Fitness businesses are redefining their values and are looking for ways to reach out to a new audience by offering personal training and nutritional and wellness counseling services all from one outlet. The notion of health is becoming increasingly important, and the fitness sector has recognized the need to adapt.
Additionally, employment of fitness trainers is projected to grow 19% from 2021 to 2031, much faster than the average in all occupations. Most of this growth is thought to be the result of needing to replace workers who transfer to different occupations or exit the labor force. By 2026, personal trainers are forecasted for an additional 330,000 jobs.
These fitness professionals need coverage that addresses the full scope of health services that they provide. USLI can help secure the right coverage for their needs.
Coverage highlights:
- Prices starting at $425 for professional liability and $150 for general liability
- Option to package errors and omissions with either general liability or a package including general liability and property
- $25,000/$50,000 sublimit for defense of allegations of patient molestation included for no charge (buy up option for $1 million/$3 million also available for additional premium)
- Additional coverages include punitive damages, supplemental payments coverage for lost wages to attend trials/hearings in defense of a claim, coverage for attorney fees/costs/expenses incurred when defending actions by licensing boards
Available limits:
- Errors and omissions up to $2 million/$4 million
- General liability available up to $1 million/$3 million
- Excess general liability up to $5 million
- Business personal property/Business income up to $500,000
- Hired and non-owned auto up to $1 million
Our underwriters are ready to help. Please feel free to email your submissions to [email protected], or call us at 1-888-SPD-USLI. Don’t forget to check out our Business Resource Center for free and discounted resources that can help you and your insureds save time and money.
