Dance studios play a critical role in the development of every person who has dreams of reaching new heights, be it in ballet, jazz, or another form of art. At the same time, dance studios and the people working in them face liability due to the nature of dance. Insurance for dance studios provides protection if these risks become a reality.
As an insurance producer, you may already know that dance studios are often too risky for many insurance companies to consider covering. Unlike more passive, predictable businesses, there are more risk elements in this situation and they are more dynamic. If you can provide an avenue for dance studio insurance, you can write more business and give your clients much-needed coverage.
Risk Assessment and Management for Dance Studios
In determining which insurance for dance studios is best for your clients, it is vital to assess risk. There are many ways things can go wrong where a studio is involved, from a bad step leading to injury, to an auto accident en route to a recital.
Injury risk is present when people are engaging in physical activity. And coverage for bodily harm is a critical piece of coverage for any business. Whether someone slips and falls while making a delivery to the studio or a dancer is injured in practice, it could be devastating without insurance.
Lawsuits and liability relating to errors, omissions, and negligence are always risks, particularly with the potential for sexual misconduct or abuse. In Pennsylvania, a dance teacher was recently accused of sexually assaulting a teenage student. While this is currently a criminal case, often, civil lawsuits follow situations like this one. In Cleveland, for example, a dance teacher employed by the Cleveland School of the Arts is named in a federal lawsuit alleging he violated the federal Title IX statute. If dance studios are found to be responsible in some capacity for the negligence or criminal behavior, lawsuits may extend to them.
That is the case in Cleveland, where the Tri-C dance studio was included in one of the lawsuits filed on behalf of a student. The suit claims that the dance studio’s officials did not review a background check report properly.
Dance studios might also consider business interruption coverage and insurance for the contents of a business. If business shuts down for any reason or if contents are damaged or need to be replaced, this coverage eliminates or reduces costs. Additional coverage could be secured as a floater if studio contents or belongings have to be used in other locations for performances.
The Prime Insurance Company team will work with your dance studio clients to understand their specific risk exposure and offer recommendations for mitigating that risk. Our goal is to reduce the potential for claims while determining which types of insurance coverage best suit the insured.
An In-House, Partnership Approach
Prime Insurance Company approaches every insurance risk with a fresh eye, working on customizing our insurance solutions for each client. We work in partnership with insurance producers and the insured, offering direct service and hands-on risk management. We complete our underwriting and risk management calls directly with policyholders. And we provide on-site risk management visits as much as we are able.
Insurance producers are included in this direct service as frequently as they would like. This ensures that everyone shares open communication and efficient service. We also aim to be a partner for producers in building more business and providing ideal insurance solutions to their clients.
Thanks to this partnership approach and our in-house expertise, we can write risks that other insurance companies deny. Even when clients have a history of adverse claims or loss, our team is willing and able to consider innovative solutions. If there is a way to write a risk, Prime Insurance Company’s in-house team will find it.
While our team works hard to make recommendations and implement best practices to reduce risk, claims happen, and we understand that. We continue to work in partnership in the event of a claim, again offering direct service to producers and insureds. We update every involved party as a claim progresses, with 24-hour assistance for policyholders. Our in-house expertise extends to claims, with an internal team comprised of attorneys and industry experts.
Our team at Prime Insurance Company is happy to answer any questions you may have about securing insurance for dance studios for your clients. Call Prime at 800-257-5590 or email us at info@primeis.com. We are also here to support clients or producers ready to get started. Use our online insurance application. Visit us on Facebook, Twitter, YouTube, LinkedIn, and Instagram or visit our website to learn more about Prime Insurance Company.
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Authored by Rick J. Lindsey, CEO, President, and Chairman of Prime Insurance Company
Rick J. Lindsey hails from Salt Lake City, Utah. He began working in the mailroom of his father’s Salt Lake City insurance firm, getting his introduction to the business that became his lifelong career. Lindsey quickly rose through the ranks while working in nearly every imaginable insurance industry job. As an entrepreneur, specialty lines underwriter, claims specialist, risk manager, and a licensed surplus lines broker, Rick Lindsey is highly skilled in all levels of leadership and execution. As he progressed on his career path, Rick discovered an urgent need for insurers willing to write policies for high-risk individuals and businesses. He was frequently frustrated that he could not provide the liability protection these entities desperately needed to safeguard their assets. He also formed the belief that insurance companies acted too quickly to settle frivolous claims. Lindsey decided to try a different approach. He started an insurance company and became the newly formed entity’s CEO. This opportunity has enabled Rick to fill a void in the market and provide a valuable service to businesses, individuals, and insurance agents who write high-risk business. Prime Insurance also specializes in helping individuals and businesses who live a lifestyle or participate in activities that make them difficult for traditional carriers to insure. If you’ve been denied, non-renewed, or canceled coverage, don’t give up quite yet. Chances are Prime Insurance can help.
