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Target Markets Program Administrators Association Program Administrator Sports & Fitness Insurance Corp. America’s widespread interest in physical fitness began to take shape some four decades ago, in part through the formation of the President’s Council on Physical Fitness. Early exercise programs, conducted individually at home or with a neighborhood friend, consisted primarily of jogging, bicycling, swimming and rudimentary weight-lifting. Regional YMCAs were forerunners of today’s fitness centers. What started out as a national mission to build or improve good health evolved into a multi-billion dollar industry. Today’s new facilities feature not only traditional sauna and workout rooms with state-of-the-art exercise and weight equipment, but also sun tanning booths, racquetball courts, clothing lines and even dining venues. Understanding this continually evolving industry is critical to ensuring that health clubs have comprehensive insurance coverage. Founded in 1985, Sports & Fitness Insurance Corporation (SFI) is a leading insurance specialist for the health and fitness industry. Its staff has more than 36 years of combined experience in the fitness business—from serving on President Bush’s Fitness Council, to senior management roles with equipment manufacturers, to owning and operating health clubs. SFI’s staff has 100-plus years of underwriting experience, mostly within the fitness business. As a result, the combination of insurance savvy and fitness industry background enables Sports & Fitness to tailor insurance products to fit specific needs. Licensed in all 50 states, SFI is the only general liability provider recommended by the International Health and Racquet & Sportsclub Association (IHRSA). Curves, women’s-only fitness centers, also recommends SFI for its franchises. Glynne Simpson, SFI’s founder and CEO, is truly a pioneer. He became acquainted with the fitness industry in the early 1980s while insuring the manufacturer of Nautilus brand exercise equipment. That’s precisely when health clubs were opening across the nation. But these “new health clubs” were widely viewed as speculative ventures, and finding insurance for them was difficult. Simpson immediately recognized this void in the marketplace and stepped in to fill it. Thus, with two people in a small office, Sports & Fitness Insurance was born. Now, 45 persons are on staff at the company’s Madison, Mississippi, headquarters, in a Memphis facility, and as part of joint ventures in Canada and the United Kingdom. “Our growth has been phenomenal,” says SFI President Steve Shelton. “Part of it is simply being ‘in the right place at the right time.’ The other part is the fact that we are one of the few insurance organizations that understand the needs of this industry and the changes taking place within it. New equipment designs and exercise regimens appear almost monthly. The health club industry is booming, and we’ve been well-positioned to ride the wave. We offer one-stop shopping, and our products are competitively priced. Add to that the industry’s best customer service, and it’s easy to see why we currently insure approximately 10,500 health clubs and over 10,000 individual trainers and yoga instructors.” Sports & Fitness offers a full range of admitted and nonadmitted products covering general liability, professional liability workers compensation, surety bonds, umbrellas, health, life and disability. In coming months SFI will have the ability to deliver personal lines to its clients. Sports & Fitness Insurance can offer coverage for: health clubs, corporate fitness management companies, racquet clubs, martial arts studios, yoga/pilates studios, dance studios, personal trainers, and yoga instructors. SFI is proud of its status as a founding member of the Target Markets Program Administrators Association. Collier Simpson, a principal at Sports & Fitness who serves on the TMPAA Board, says, “Our relationship with Target Markets has been invaluable. There are many insurance associations out there, but Target Markets is the only one that really addresses the specific needs of program administrators.” * |
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