Imagine for a moment that you perform an aesthetic treatment on a client, but they are not happy with the results. Or perhaps they don’t perform the necessary after-care, and somehow change the way the dermal filler sits shortly after their treatment.
Now imagine that they come back to you and blame you for the damage to their face. You either have to pay them a compensation fee or administer free treatment to fix the damage that may or may not have been a result of your work.
This kind of cost could ruin your business.
Indemnity insurance is there to protect you against this very instance – and is particularly crucial for aesthetic practitioners who are dealing with sensitive and delicate areas on and around the face.
As practitioners will know and no doubt understand, clients don’t always administer the after care that they are advised to follow, and as such damage can be caused to a treatment that should have been straightforward and successful.
Let’s take a closer look at how this works.
How does indemnity insurance work?
Indemnity insurance is a contract between the business and an insurer, whereby the insurer agrees to compensate the business for damage or loss, in return for regular premiums which are paid by the business. The policy is held by the business owner, with insurance designed to protect the business from the kind of damage that could be caused by a mistake or careless client. Indemnity insurance could also be claimed in light of damage to the clinic, theft, breakdown of the equipment required to complete treatments, and claims of negligence.
This is where the correct level of training comes in, with insurers only willing to partner with and insure a practitioner who has received the right level of training and who holds the relevant certifications and qualifications pertaining to the treatments they wish to perform.
Indemnity insurance in the aesthetic and beauty industry
The aesthetic and beauty industry is considered a high risk industry – not least for the fact that it deals with and adjusts the faces of clients every single day. With such high level equipment in sight and with every treatment relying on the quality of this equipment, the aesthetic industry can also be a prime target for thieves – with the right insurance covering every instance which can cause damage to the business and its ability to operate.
The aesthetic industry is also considered at high risk of complications and other claims which clients could make which can damage the reputation of a business. The risks surrounding aesthetic treatments means that every new client experience comes with an element of risk – and indemnity insurance is there to protect businesses and ensure that a bad experience does not mean the end of a business altogether.
It is important to note that indemnity insurance is not a legal requirement, however it is strongly advised for most businesses – especially those operating on such a high risk level as aesthetics.