A retroactive date is the earliest date from which an insurance policy will cover claims. Any incident that occurs before this date is not covered, even if the claim is made while the policy is active. This date is important for practitioners who switch insurers or purchase a new policy, ensuring continuity of coverage for […]
Adequate insurance is a crucial safeguard for practitioners, protecting them against claims of negligence or errors in client care. MTAs (Mid-Term Adjustments) and Endorsements are two important terms in these policies. Understanding these can help policyholders manage their coverage effectively. What is an MTA (Mid-Term Adjustment) A Mid-Term Adjustment (MTA) refers to any change made to your insurance
When reviewing your insurance policy at renewal, it’s essential to ensure the coverage remains appropriate for the business’s needs and aligns with any changes over the past year. 1. Treatments and Services New Treatments: Has the business introduced any new treatments? Verify they are covered or whether they need to be added. Discontinued Treatments: Remove
Being risk-averse in the beauty industry involves proactively identifying, mitigating, and managing potential risks to safeguard your business, reputation, and clients. Here are some strategies to adopt a risk-averse approach: 1. Understand Legal and Regulatory Requirements Stay Compliant: Familiarise yourself with local laws and regulations, including licensing, hygiene standards, and treatment-specific requirements. Continuing Education: Regularly update your
