Leisure insurance is intended to provide the necessary insurance cover, that enables the operators of those sections and activities within the Leisure industries, to conduct business, safe in the knowledge that their operating risks and liabilities are protected as far as possible, with the appropriate insurance policies.
The Leisure industry covers a multitude of activities, including but not limited to: –
• Activity Centres
• Children’s Indoor Play Centre
• Climbing Centres
• Ice Rinks
• Outdoor Pursuits
• Paintball Centres
• Skating Rinks – both Roller and Ice
Each activity requires a different range of insurance policies, all of which will depend on the size and location of the specific activity; whether the operator owns or rents the buildings and equipment; the number and type of staff involved; the potential risks of injury to clients and other members of the public and the potential Loss of Profits in the event of insurable damage to the premises.
Types of Insurance Policies
Building and Contents
The first risk that any operator needs to consider, is the possible loss to the building where the activity is located, coupled with damage to Machinery, Plant and All Other Contents. This should include damage resulting from Fire but should be extended to include other perils such as Storm, Flood and even Accidental Damage.
Similarly, all the contents within the building, be they associated with the building, such as heating units, electrical distribution switchgear, bathrooms, toilets and showers as well as the likes of other contents, such as carpets, light fittings, office equipment, activity equipment, bar or coffee shop and kitchen fittings, should be included.
This form of insurance protects the Owner/Operator against any liabilities for which they may be responsible towards Employees during the course of operating the business. This would extend to include all types of Employees such as: –
• Coaches and Instructors
• Catering, Retail, Cleaners and Maintenance
Public liability And Professional Indemnity
These types of insurance will protect the Owner/Operator for their liabilities say, for example, members of the public become injured whilst visiting the premises. The Professional Indemnity insurance will protect the Owner/Operator, for example, should loss or injury occur to a client through the provision of inadequate or mistaken advice.
Business Interruption or Lost Profits
Sometimes a business is forced to close completely or restrict trading operations following damage of an insurable peril, such as a Fire or Flood. This results in a loss of income to the business and so this type of insurance will assist in replacing any lost profits during the aftermath of the event and assist the business to get back to a fully operational status.
This is a brief overview of some of the insurance coverages recommended for any business operating within the Leisure Industry. However, as previously mentioned, each Activity Centre will require a different combination of the insurances and by consulting a suitably experienced Insurance Broker, the Owner/Operator can be confident that the correct cover, at the right price, will be put in place.