Here are some of the typical risks and exposures in the beauty industry, and how agent and brokers can provide risk management advice. (Photo: iStock)

5 things to know about insuring salons and spas

The beauty salon and spa industries are booming businesses — and their employment figures are following suit. A spa trade organization reports that employment in the spa industry rose by about 3% from 2014 to 2015; another report showed that the salon industry has grown steadily over the past decade, even throughout the recession.

As the beauty industry changes, it is important to make sure that a salon or spa’s policy is not outdated. Sometimes what doesn’t seem like a big change — like adding a relatively minor new amenity or service — can be an excluded exposure on the current policy and may be an issue if a claim occurs.

Read the entire PROPERTYCASUALTY360° article to identify the 5 things to know about insuring salons and spas.