Helping clients find balance and healing is what you do best, but miscommunication or accidents in your facility could result in costly legal claims that derail your efforts. Protect your business with liability insurance tailored specifically for energy healing practitioners.
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Liability Insurance
Slip and fall accidents or unexpected reactions to essential oils could turn into costly legal claims that threaten the viability of your practice. With insurance in place to defend it from such threats, your practice can continue serving clients confidently.
Liability insurance for energy healers protects them against incidents in their facilities as well as those stemming from interactions with clients, such as miscommunications, mistakes or accidental harm. Bundled policies such as those offered by EMPA typically combine professional and general liability coverage – ideal for energy healing professionals so they can focus on their work without worry over potential claims.
Be it Reiki, reiki masters, crystal healing, Wim Hof Method guided meditation sound bowl healing or numerology; your work aims to help clients find balance and renewed energy flow. But accidents do happen. With liability insurance in place you’ll have experts by your side who can manage incidents while covering settlement costs so you can remain focused on serving clients.
Bundled policies combining professional and general liability coverage will cost around $20-$25 monthly, providing access to tools, insights into your industry and community of other practitioners that go beyond basic protection. You’ll gain confidence when growing and expanding your practice with these membership benefits in mind; giving clients an experience they deserve. Find the appropriate policy today that meets the unique requirements of your energy healing practice!
Business Owners Policy (BOP)
Business Owner Policies (BOPs) provide an efficient way of consolidating multiple insurance coverages into one policy, saving time and money while offering comprehensive protection from risks such as property damage, lawsuits and income loss. Recreational businesses such as campgrounds, bike tours and haunted houses may find BOPs especially helpful with increased coverages available and decreased administrative burden. Contact Co-Op Insurance now to discover how our tailored BOP can insulate against profit losses in your industry!
Are You Running a Recreational Business and Need Coverage?
Professional Indemnity Insurance (PII)
Professional Indemnity Insurance (PII) protects businesses that offer advice or services for a fee from claims made by customers or clients alleging financial losses due to professional negligence, such as defamation and intellectual property infringement. This policy should be seen as essential, with certain sectors even mandating such coverage as part of their regulations.
Public Liability Insurance and Management Liability policies often combine Professional Indemnity Insurance policies in order to cover professional risks comprehensively, yet it is essential that businesses understand the distinctions between them – while Professional Indemnity covers claims for mistakes, errors and omissions, Public Liability covers property damage or bodily injuries caused by third parties and Management Liability policies cover claims made for negligence claims by their staff members or clients.
PII policies tend to be Claims Made policies, providing coverage for any claims occurring during the policy’s duration. Furthermore, most policies have a limit that determines how much the insurer will contribute towards any one claim; typically this limit can either be costs exclusive or inclusive with latter providing more comprehensive protection.
Insurance premiums are determined based on a business’s turnover. Once this amount has been added with GST and Stamp Duty charges, this provides a Base Premium. Express brokers earn commission from insurers as part of this premium as well as policy administration fees which cover general office overhead costs, calculations of all tax invoices with supporting documentation, premium and statutory charges collection/settlement to insurers/authorities as part of this fee, typically between 15%-22.5% of Base Premium collected.
