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2021 Restaurant Insurance Outlook

Modern Restaurant Management

restaurant industry has a loaded plate as 2021 picks up steam – especially from an insurance and financial protection point of view. “The prospects for fine dining and sit-down restaurants are going to remain strained for all of 2021,” said Doug Groves, founder at Program Insurance Group, in College Station, Tex.

Insurance 212
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How Business Insurance Could Save Your Restaurant from COVID-19

Modern Restaurant Management

In March 2020, restaurateurs across the country have had to shutter their businesses in some cases literally overnight. All of them have asked us for help in saving their businesses and helping their employees. Business interruption insurance covers the loss of income that a business suffers after a disaster.

Insurance 217
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July/August 2020 Legal Update

Modern Restaurant Management

Nair, a partner at Ervin Cohen & Jessup LLP compiles recent legal news affecting the restaurant, food and beverage and hospitality industries for Modern Restaurant Management (MRM) magazine. Full-service restaurants are exempt from this law if employees sort organic waste. Litigation. Legislation. Administrative Developments.

2020 164
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Four Ways QSRs Can Avoid the Risk of ‘Serious & Willful Neglect’ Workers’ Comp Claims

Modern Restaurant Management

McDonald’s is among the growing number of employers to be hit with a lawsuit by a group of Chicago employees claiming the company failed to meet expert recommendations and government guidance for on-the-job protections against COVID-19. Claims management counts. Take a hard look at your workers’ compensation strategy.

Insurance 208
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What Is the SUTA Tax and Why Is It Going Up in 2021?

Hot Schedules

I t’s probably fair to say that most entrepreneurs didn’t give much thought to the complexities around payroll management and taxes before starting a business and hiring employees. Every state requires its employers to pay this tax, and no employee has money withheld from his or her check to pay SUTA. What is SUTA?

2021 148
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Flexible Covered Period and Expanded Allowable Expenses Makes Newest Round of PPP Funds More Advantageous for Restaurant Businesses

Restaurant365

You can apply for one of these new forgivable loans, even if you received a PPP loan in 2020. Additionally, businesses applying for a PPP loan can also apply for Employee Retention Tax Credits (ERTC), if the credits are not applicable to wages paid with forgiven PPP loan funds. Business must have fewer than 300 employees.

Insurance 148
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What’s Next with Paycheck Protection Program (PPP) for Restaurants?

Modern Restaurant Management

The Small Business Administration (SBA) and US Treasury department’s PPP loan forgiveness application was released on May 15, 2020 ( Forgiveness Application ). The much-awaited guidance does little to address the unique challenges afflicting the restaurant industry. Covered Period. Reductions in Average Full-Time Equivalency.