Every club dreads the incident that requires an insurance claim. But when such an incident does occur, it’s important to feel protected, and The Cincinnati Insurance Company is one of the industry’s best partners for loss and risk management.
Here, Marco Fiorini, the operations manager of Cincinnati Sports Club, shares his experience partnering with The Cincinnati Insurance Company:
MF: We decided to work with them because of their proactive approach to loss management and risk management, and their underwriters specializing in health clubs and fitness facilities.
MF: We have been able to benchmark other health clubs working with Cincinnati Insurance at an annual roundtable event held at its headquarters. Gallagher Risk Management Services, Inc. — our insurance agency — and Cincinnati also have representatives who meet with our risk management team three times per year to go over industry claim and injury trends to help us address risks before they happen here.
MF: One example is a stability ball protocol we implemented a few years ago. All stability balls purchased have a dynamic (burst proof) rating of 1,100 pounds, a textured surface, are replaced after 12 months and receive a visual inspection monthly. This was in response to a meeting with our agent and Cincinnati Insurance where we noticed an industry trend that stability ball-related claims were rising, and on some claims, stability balls had collapsed while people were working out with heavy dumbbells on them. We had no previous history of stability ball failure, but wanted to take steps to reduce the likelihood of it happening at our club.
MF: They have been willing to review existing policies regularly, and have often provided input on new policies or how to improve or keep existing policies up to date. They also seem to take personal interest and pride in our facility, and want to hear what we are doing or are going to do.
MF: They have a specialized department within their company with underwriters who specialize in health and fitness clubs, so policies are tailored to the industry. Their representatives are willing and able to attend regular meetings to address current market concerns before they become an issue to us. They also put us in contact with other clubs they insure, which allows us to share information to both minimize risk and improve the member experience.
For more information on The Cincinnati Insurance Company and how it can benefit your business, click here.