Proximity Space, a workspace management software company, has launched a new insurance brokerage to cover coworking and flex space operators.
The new service, Proximity Protect, aims to address the insurance gap for coworking and help reduce risk for space owners and managers.
It claims this will the first brokerage in the US to specialise in insurance for flexible workspaces and their members.
Proximity Space claims the flexible workspace has not had adequate options for coverage, carriers and pricing. Its new brokerage is designed to help address this, helping space owners to have a comprehensive approach to risk management and offer tailored insurance programmes that meet the unique risks of operating in a flexible workspace.
Policies available include property, general liability, workers’ compensation, employment practices liability and cyber liability.
In addition to this, the service will include tools to help space owners and managers designate what types of memberships are required to carry insurance and automatically collect, track and manage member insurance policies.
Proximity Protect president David Young said, “Our goal is to educate the entire insurance industry on the coworking and flex industry. The insurance industry can be slow to innovate which leads to risks simply being declined or inadequate coverage provided for the space operator. We’re here to advocate for the industry and provide innovative solutions that so far, no one has managed to offer.”
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