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Safety Net

Written by Victoria Kezra

Safety Net

One uninsurable jam prompted this banker's to create coverage options for traceurs.

You’ll never see the Geico Gecko do a sick vault, or Progressive’s Flo eat pavement after a bailed flip. But thanks to one industrious jam host, you don’t need to go to a lizard for protection from the physical repercussions of a missed landing.

PK Insure, which opened in 2011, is the first U.S. company covering individuals, groups, and gyms in case of injury or property damage incurred while practicing parkour. Dylan Borland, 27, formed the company after he couldn’t find reasonably priced insurance for an indoor jam he wanted to host. At the time, the only company willing to insure the venue charged $25,000 for the four-hour event. “It started as a need for ourselves and it went from there,” says Borland.

After securing $1 million in seed money from Borland’s venture capital company, D. Scott Ventures LLC, Borland founded PK Insure. The company’s physical office sits in Livonia, Michigan, but anyone can sign up for a policy via the PK Insure website.

When it launched, Borland expected the company’s main source of revenue to be individuals, but gyms make up most of its policyholders. Many gymnastic gyms offer specific times and classes for parkour training but are unable to get coverage from their regular insurer. “A lot of the gyms’ insurance won’t cover parkour, so they can’t call it parkour or freerunning,” he says. “If they do, they’ll actually have their policies dropped. Gymnastics insurance companies are very adamant about not covering parkour.”

PK Insure covers individuals ages 5-55 for $10-$79 a month, depending on the level of coverage, and offers custom packages for individuals and groups.