The beauty salon and spa industries are booming businesses — and their employment figures are following suit. A spa trade organization reports that employment in the spa industry rose by about 3% from 2014 to 2015; another report showed that the salon industry has grown steadily over the past decade, even throughout the recession.
As the beauty industry changes, it is important to make sure that a salon or spa's policy is not outdated. Sometimes what doesn't seem like a big change — like adding a relatively minor new amenity or service — can be an excluded exposure on the current policy and may be an issue if a claim occurs.
Below and on the following pages, five things agents and brokers must know about insuring the health and beauty industry.
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