Knowing the different exposures is critical in writing professional liability (medical malpractice or E&O), general liability & Cyber Risk Insurance for Medical Spas & Day Spas. The miscellaneous healthcare industry is growing and unique risks are on the rise. Two areas that have been increasing in popularity are Medical Spas (Medi Spas) and Day Spas.
While these two healthcare segments may appear to be similar, the exposures can vary widely. The biggest difference between a Medi Spa and a Day Spa are the services offered and the expertise needed to perform them. Medi Spas are facilities that provide specialized procedures and services in a spa-like environment, some of which require expertise normally found in a doctor’s office. These procedures are typically performed by licensed nurses or techs and under the supervision of a doctor. Day spas are establishments that provide cosmetic and therapeutic services, generally without the supervision of a doctor, although the requirements vary by state.
Services provided at medical spas vary and may include botox/injectables, laser treatments, weight loss services and tattoo removal. Services provided at day spas vary as well, but tend to be lower hazard cosmetic services rather than medical procedures. Core services include facials, manicures, pedicures, massages and body treatments. Most importantly, the services will vary from one spa to the next, so understanding the exposures is the key to providing the right insurance – as noted here:
No two medical spas seem to be quite the same—as such, each spa will need a customized insurance program to ensure that all exposures have been properly covered.
All healthcare organizations, including Medi Spas, should have professional liability insurance (medical malpractice or E&O) in the event there is a claim for negligent services. Cyber Risk Insurance (also called Data Breach, Privacy and Network Security insurance coverage) is a critical coverage as well. In addition to the threat of data breach, healthcare organizations face ransomware and cyber crime exposures.
Tennant Risk Services is a specialty wholesale broker and underwriting manager, and delivers expertise, markets and exemplary services to our retail insurance agent clients in the placement of professional liability and specialty insurance (E&O, D&O, EPL, Cyber Risk, Specialty). We excel at hard to place accounts.
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