5 things to know about insuring salons and spas

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As the beauty industry changes, it is important to make sure that a salon or spa’s policy is not outdated.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.