Evolving with the times
In the fast paced, competitive fitness industry, it’s imperative that your business partners with an insurance adviser who’s looking out for your best interests and whose market knowledge will help you stay ahead of the game.
Jubilee Hall Trust operates gyms at four iconic locations throughout central London. In such a competitive marketplace, they found themselves under pressure, particularly in their Covent Garden location where there are over twenty gyms within a mile radius.
To stand out and stay ahead of the curve, they continuously renovate their facilities amid the restrictions of working within a listed building.
Having stayed in close contact with the senior management at Jubilee Hall Trust, we have been able to undertake regular reviews of their cover to ensure their insurance package keeps pace with their diversifying business needs.
Given the reality of the added risk that comes with working with listed buildings, we have adjusted their cover accordingly ensuring it reflects the potential higher cost of repairs that comes with the requirements to use authentic materials and specialist contractors. We’ve also added an “excess of loss” liability to shore up their ability to meet their contractual requirements as a trust.
Jubilee Hall Trust has the peace of mind that they’re working with an adviser who understands them and who will ensure their cover evolves, enabling them to adapt to the changing landscape of this competitive market. They know they have the right foundations in place to protect their business, allowing them to focus on what they do best.
The client’s view: Jubilee Hall Trust Chief Executive, Phil Rumbelow, says: ‘We have worked with Partners& as our brokers for fifteen years, and we really value their approach to assessing and recognising our unique requirements, and then providing tailored solutions. Obviously, it is critically important to have sufficient insurance cover, whilst not being over-insured, but also being able to make claims quickly and efficiently. Partners& has always delivered on these requirements, and we have been very satisfied with their service.”
Our work with leisure trusts
Partners& works with a wide range of sports and leisure operators from independent businesses to leisure trusts and franchisees. For leisure trusts, contractual liability is high on the agenda as they are often contracting with a local authority to operate facilities on their behalf. We help with reviewing these local authority contracts to identify their requirements for insurance, making sure trusts are not undertaking any unreasonably onerous conditions.