There is a great opportunity for agents and brokers to write this type of business. We’ve seen in the past as loss ratio’s start to look bad that carriers pull out of the writing this business. We have and will continue to remain a solution for agents and brokers looking to place tough risks like these no matter what their losses are. I think the secret to success for business owners and agents writing this class is good risk management. Our in house risk management is an excellent resource that each of our insureds has the benefit of counciling with to ensure a safe and successful operation. Excellent Article!
The author has made some good points and is certainly qualified. Reality is that if a child is hurt, the insurer for the operator, and any other entity in the chain of commerce, is going to pay a large legal bill and ultimately an indemnity payment. We are niche underwriters for some pretty extreme sports, but our experience with inflatables defies underwriting. My advice to anyone with a child or grand child is to keep them out! Most are filthy and unsafe.
Some of the problems especially with wind is that when these bounce houses and or amusement ride are put up in a park or a parking lot or a closed off street, they are not allowed to anchor, anchoring would eliminate most wind issues if it is done properly. But alas they put them up anyway non anchored.
I have family in this business. #1 – customers sign a release of liability before the inflatable is unloaded and set up. #2 if the jump is set up on the street, etc. it is tethered by concrete buckets, approx. 85 lbs. on each corner.
It is all about people trying to make a quick dollar. As an Insurer you make the Insured fill out a check list for each rental, have the owner sign and affirm that the unit was installed properly and a trained adult attendant is presented. It would carry more weight in a court case that some of the waivers that are floating out there now. The majority of operators are responsible. Of course there is always room for improvement. The owner/operators have to made aware that they are responsible for proper set and operation. From a Product Liability standpoint we need to keep this junk that is coming into the USA from overseas.
Inflatable facilities have next to no risk when compared with Trampoline Parks. Review the article in the link to view the next Monstor to injure and maim kids and young adults.
There is a great opportunity for agents and brokers to write this type of business. We’ve seen in the past as loss ratio’s start to look bad that carriers pull out of the writing this business. We have and will continue to remain a solution for agents and brokers looking to place tough risks like these no matter what their losses are. I think the secret to success for business owners and agents writing this class is good risk management. Our in house risk management is an excellent resource that each of our insureds has the benefit of counciling with to ensure a safe and successful operation. Excellent Article!
Eric, thank you for your comments. I’d love to talk with you more about your operations.
Drew
The author has made some good points and is certainly qualified. Reality is that if a child is hurt, the insurer for the operator, and any other entity in the chain of commerce, is going to pay a large legal bill and ultimately an indemnity payment. We are niche underwriters for some pretty extreme sports, but our experience with inflatables defies underwriting. My advice to anyone with a child or grand child is to keep them out! Most are filthy and unsafe.
Some of the problems especially with wind is that when these bounce houses and or amusement ride are put up in a park or a parking lot or a closed off street, they are not allowed to anchor, anchoring would eliminate most wind issues if it is done properly. But alas they put them up anyway non anchored.
I have family in this business. #1 – customers sign a release of liability before the inflatable is unloaded and set up. #2 if the jump is set up on the street, etc. it is tethered by concrete buckets, approx. 85 lbs. on each corner.
It is all about people trying to make a quick dollar. As an Insurer you make the Insured fill out a check list for each rental, have the owner sign and affirm that the unit was installed properly and a trained adult attendant is presented. It would carry more weight in a court case that some of the waivers that are floating out there now. The majority of operators are responsible. Of course there is always room for improvement. The owner/operators have to made aware that they are responsible for proper set and operation. From a Product Liability standpoint we need to keep this junk that is coming into the USA from overseas.
http://www.chicagotribune.com/health/ct-met-trampoline-20110519,0,2496027.story#tugs_story_display
Inflatable facilities have next to no risk when compared with Trampoline Parks. Review the article in the link to view the next Monstor to injure and maim kids and young adults.