Like most industries, the hair care and beauty industry is exposed to a range of business risks that require insurance coverage, such as risks from employees, dissatisfied customers, and management issues, through to professional negligence. And like most industries, salons and day spas have their own specific risks, such as treatment risks, risks from colleagues who ‘rent seats’, and ATO audits, that they would be wise to protect themselves against.
Without adequate protection through insurance, businesses in this industry can be exposed to costly litigation processes.
All operating businesses need to cover themselves against basic business risks such as fire/perils, business interruptions, burglary, money, glass breakages, machinery breakdown, electronic equipment, employee theft or general property liabilities. Many insurers combine these covers into a business insurance pack. Businesses often purchase a business pack and then add extra insurances to cover their specific industry needs.
The hair care and beauty industry faces industry-specific risks from failed treatments or the client’s reactions to treatments. If a treatment causes client harm, the salon can be exposed to litigation, expenses and reputation damage. Treatment risks could include:
Given the number of treatments, a salon can provide in a day, the risks posed by failed treatments or reactions can be high.
We can provide you with packaged insurance for the hair care and beauty industries that meet both your business and industry-specific risks. We have access to insurers that specialise in covering this industry – we can negotiate a business pack that covers your business risks as well as your additional risks.
We can negotiate such insurance policies for hairdressing, beauty and tanning salons, barbershops, mobile and freelance hairdressers and beauticians, beauty therapists, make-up artists, manicurists, nail technicians, hair removalists, solariums, day spas, saunas and aromatherapists.
Furthermore, we can negotiate wording that covers salons for additional services they may offer clients including waxing, nails, spray tanning, cosmetic tattooing, massage, spa treatments, IPL & VPL treatments and body piercing.
Download our industry brochure here.