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Insurance Considerations for Axe Throwing Venues

Some types of insurance are required by law or by contract, while many others are important simply because they protect a company from financial distress. Insurance reduces potential liabilities and increases enterprise value, which allows a company to continue to grow and thrive. Below is a common scenario your company will face and the insurance that may be important to buy at that time.

Hiring an Employee

  1. Workers Compensation is required by law in almost every state the minute you hire an employee.  While General Liability is meant to protect your employees if they are hurt on the job, Workers Compensation is meant to protect your employees.Workers Compensation is governed by National Council Compensation Insurance (NCCI) in 36 states. There is a specific class code and rate in every state for strip clubs employees. Each state has a specific rate and they charge a specific amount/rate for every $100 in payroll. An average rate typically falls between $3 and $6 for every $100 in payroll (or 3%-%6) depending on the specific state. Typically up to 4 named offices on the articles of incorporation can typically exclude themselves. As such a company with $75,000 in annualized payroll at a $5 rate per every $100 of payroll could be paying (($75,000 *5)/$100)=$3,750 per year. Workers compensation is absolutely auditable. You project your payroll and pay into the system and at the end of the year based on your actuals, you either obtain a refund or owe additional money.  Please check your state laws to determine if you need workers compensation or not: https://www.nfib.com/content/legal-compliance/legal/workers-compensation-laws-state-by-state-comparison-57181/
  2. Employment Practice Insurance: Can typically protect a Company against allegations and potentially damages from (A corporate veil will typically not protect a company against an Employment Practice Acts; i.e. meaning you can be sued personally):
    1. wrongful dismissal, discharge or termination of employment;
    2. breach of a written or oral employment contract or implied employment contract;
    3. employment related misrepresentation;
    4. wrongful failure to promote;
    5. violation of employment discrimination laws (including harassment);
    6. wrongful deprivation of a career opportunity;
    7. employment related wrongful discipline;
    8. negligent employee evaluation;
    9. employment related invasion of privacy;
    10. employment related defamation (including libel and slander);
    11. sexual or workplace harassment of any kind;
    12. constructive discharge of employment;
    13. employment related Retaliation;
    14. employment related humiliation;
    15. wrongful demotion;
    16. negligent reassignment;
    17. violation of any federal, state or local civil rights laws;


    3. Sexual or Physical Abuse or Molestation:

    Sexual Abuse/Molestation is not typically covered under a standard General Liability policy.  This is a risk that is potentially prevalent within an axe throwing venue.  A sexual abuse/molestation policy usually covers improper acts of sexual abuse, intimacy, molestation or sexual assault committed by an insured against another party.



When The First Hire Is Made (Workers Compensation and Employment Practices Liability Insurance)

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