Expect More, with Les: Why ABMP Liability Insurance Does Not Have a Shared Aggregate

Recently, I had the pleasure to be interviewed on the Massage Business Blueprint podcast to explain the intricacies of liability insurance, and I’ve been reflecting on the experience.

While the topic can seem boring, technical, and scary, the reality is that it’s an important one because some of these technicalities can mean the difference between you leaving an incident scot-free or losing everything.

That’s why ABMP provides liability insurance for bodyworkers coverage that protects you from two important scenarios that might seem like technicalities.

One: ABMP membership gives you an individual policy aggregate, not shared.

The liability insurance included in ABMP membership gives you coverage at $2 million per incident and $6 million per year, just for you. Other liability insurance policies, like AMTA’s, have a master limit that is shared among all members. Why is that important? Because with ABMP you get your own $6 million, and with AMTA, if that master policy limit is used up by other members before you, then you have $0 in coverage. Is that a likely scenario? No, it isn’t. But it is a possible worst-case scenario, and we at ABMP have decided that finding a less expensive liability insurance policy with a shared aggregate is not worth the possibility that any of our members go uncovered when they need us most.

Two: ABMP membership gives you occurrence form coverage instead of the inferior claims-made coverage.

I’m proud to say that ABMP has led the way on this one. Even five years ago, a lot of the coverage out there did not protect massage therapists if their liability insurance policy had expired when the claim was made. ABMP has always offered occurrence form coverage, which provides protection even if you let your membership lapse to take a break and travel, or raise a family.

We care too much about our members to compromise when it comes to your protection. Offering liability insurance is a key part of our membership, and we only offer the best.

I encourage you to listen to the podcast at www.massagebusinessblueprint.com/e68-common-questions-about-massage-liability-insurance-with-les-sweeney-from-abmp.

—Les Sweeney, BCTMB, is president of Associated Bodywork & Massage Professionals.