The cleaning services sector is on the rise. With urbanisation and the number of dual-income households steadily increasing, the demand for cleaning businesses is in full swing. A 2017 report by Allied Market Research has predicted the industry’s global Compound Annual Growth Rate (CAGR) of over 6% (which is approximately $74,299 million) by 2022. Compared at a geographical level, the region with the highest predicted CAGR is Asia Pacific, with an increase of 7% between 2016 to 2022.
The assumed growth of the market generally means potential for business expansion, and many might use this as the opportune time to act, especially with statistical support. Of course, growth also suggests the need for more human resources. The more employees or contractors your client hires, the more people will be exposed to a variety of risks each time they set out on a job. And it’s not just the cleaners that are potentially at stake, but the customer’s property and the people in it too.
Ryno Underwriting offers tailored solutions for a wide range of domestic, commercial, and industrial cleaners. In a high-risk industry, we understand that your client’s business will have a specific set of concerns that will require comprehensive insurance coverage. Some of the key benefits we can arrange include:
- Sub-contractors liability extension
- Loss of keys extension (with limits up to $50,000)
- Principal Indemnities
Get in touch one of our experienced underwriters today or obtain a quote online.