ASCP Skin Deep

COVID 2020

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46 ascp skin deep COVID-19 special issue 2020 YOUR INSURANCE Coverage Basics A quick primer on types of insurance and the coverage you may need by Maggie Staszcuk During the COVID-19 pandemic, you should not be performing hands- on work. As a result, your income and business revenue will be negatively affected. Here is a breakdown of what your ASCP membership with liability insurance covers, as well as other types of insurance you may want to consider for the future. ASCP MEMBERSHIP WITH LIABILITY INSURANCE Your ASCP liability insurance covers you for general, professional, and product liability. It's an insurance policy that protects you when you are being sued and/or alleged to be legally liable for claims of negligence resulting from damage or injury to a client, slip-and-fall incidents, and adverse reactions to a product. Simply put, you've been accused of being negligent in some way at work with an alleged injury to a client. Many estheticians are still performing virtual consultations, selling and shipping retail products, or creating at-home treatment kits. For estheticians who continue selling retail product, you'll want to keep your ASCP membership with liability insurance active. Should your client have a reaction to retail products sold and used at home, your membership has you covered. Treatments and products intended only for professional use, such as chemical peels, should not be sold for home use. ASCP's insurance carrier, just for the period the coronavirus pandemic prevents individual ASCP members from performing hands-on work, has agreed to insure virtual consultations. Conditions on such coverage include: • Your client must be located within the same state in which you are licensed to practice; • For any new client, you must complete a full new client intake form and keep it on file; • You must be operating within your legal scope of practice; • During the virtual consultation, you must be able to see your client (i.e., by using Zoom, Facetime, or similar technology); and • The sessions must be live, not pre-recorded. Your regular liability insurance policy language, including listed exclusions, applies to virtual consultations. BUSINESS PERSONAL PROPERTY INSURANCE Business Personal Property (BPP) insurance is coverage for the personal property within your regular workspace in the event there is physical damage to that property. ASCP offers Business Personal Property coverage up to $25,000. ADVANCED MODALITY INSURANCE Advanced Modality Insurance is for estheticians who have advanced their education and are performing esthetic services beyond the basics. This coverage is an addition to the policy offered through ASCP membership to cover advanced services like laser, permanent makeup, and body contouring. OTHER TYPES OF INSURANCE Here are some types of insurance ASCP membership does not offer that a sole proprietor or contract worker may consider. Short-term/long-term disability Short-term disability insurance is insurance that replaces your income for a short period of time if you experience a disability. The benefit period usually lasts 2 weeks to 3 months. Long-term disability usually starts after short-term disability runs out. For business owners specifically, there are disability policies that cover your business overhead and pay down business loans if you get sick or injured. Business owner policy A business owner policy (BOP) provides insurance coverage for things like commercial property, general liability, and business income—all under one umbrella. Commercial property insurance protects your building, equipment, and inventory; general liability insurance covers any medical expenses and/or property damage you or your employees are legally responsible for; and business income coverage helps you to pay bills and employees if your business has to temporarily close. Loss of income/business interruption Loss of income insurance is usually a rider to your business owner policy. It replaces business income lost in a disaster. Please be mindful that the vast majority of business interruption insurance policies exclude coverage for viruses and pandemics. Taking time to learn which types of coverage you should have can be overwhelming, but the peace of mind will be worth every minute.

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