Insights and tips on how to protect your adventure sports business, giving you and your guests peace of mind.
Commercial general liability (CGL) insurance is an essential form of coverage for all outfitter and guide businesses, but they typically come with some exclusions. Understanding these will help your adventure sport business identify potential coverage gaps, minimizing the risk of costly out-of-pocket losses.
While slip and fall incidents may sound minor, they can severely hurt customers, employees and even land your business in court. Keep reading to learn more about these hazards and prevention measures you can use at your outfitter operation.
Vandalism poses a risk to nearly every business and its properties. While public buildings and structures often bear the brunt of such acts, private properties are not immune. Vandalism can cause physical and financial stress.
Severe weather conditions that occur in spring and early summer can be detrimental to your line of work, putting an unintended strain on your business. Make sure your outfitter is prepared by re-acquainting yourself with these spring weather threats and the measures you can take to minimize damage.
Fires can devastate small businesses, causing property damage, loss of inventory, disruptions in operations and even endangering the lives of customers and employees.
It’s important to protect your drivers and vehicles with adequate insurance coverage. That’s why many organizations turn to commercial auto insurance, which can provide the following benefits:
The drive to and from your adventure destination requires preparation and protection equal to that of the sport your group is participating in. In particular, driving larger vehicles, such as passenger vans or buses, poses unique safety hazards and distractions beyond those faced when driving our standard personal vehicles.
Outfitter employers are urged to prepare for impending legal changes including potential overtime rule shifts and evolving employee benefits requirements. To stay ahead of these challenges, it’s crucial for outfitters to employ proactive strategies, update their policies and closely monitor the anticipated compliance challenges that lie ahead.
Cost-driving trends have driven claims frequency to pre-pandemic levels, amplifying overall loss severity across the segment. Considering these developments, most insureds should anticipate ongoing premium increases in 2024.
The implementation of workplace safety measures and AI advancements have reduced employee injuries and associated workers’ comp claims. However, inflation, shifting workforce demographics and employee mental health challenges have raised some market concerns.