We are sad to report that yesterday May 29th, PK Insure, the nations largest insurance company specializing in Parkour and Freerunning insurance, has officially closed its doors. The company covered over 200 gyms nationwide and 10,000 individuals.
When asked why the company was closing up shop, Dylan Borland, the traceur who founded the PK Insure had this to say...
""PK Insure has been an astonishing company and more importantly the community has given PK Insure an overwhelming amount of support and dedication, we will forever be truly grateful it has been a great experience. At the end of the day PK Insure is a business, a unique business in the sense that PK Insure is a privately funded insurance company. To be a privately funded insurance company this takes a tremendous amount of capital, and though policies were continuing to increase year over year, the increase has not been significant enough in generating the returns needed by our largest financial backer, venture capital firm D. Scott Ventures. The decision was made that revenues simply were not enough, and it did not make sense to keep the business going. Our heart is heavy as a result of this decision, however, we know the community will survive and flourish, and we have proved the sport is safe if we did anything we laid the path for larger firms and companies to jump on board and take over."
And thus ends an era, but we at NYparkour hold out faith that PK Insure or another company like it will rise to fill what is becoming an underserved and growing market place.
For more info on the closing you can view the companies official statement