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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.

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How to Set Up Online Ordering for Restaurants

7 Shifts

If you weren’t thinking that much about online ordering before, you definitely are now. But when it’s so dead simple to get listed on third-party delivery marketplaces and take orders, why do all the other work to create your own system when you are a time-strapped restaurateur? It will still cost you to run your own delivery.

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How Business Insurance Could Save Your Restaurant from COVID-19

Modern Restaurant Management

As of the end of March, almost a third of Americans were under some type of “stay-at-home” order due to COVID-19, either mandated locally or statewide, with no immediate end in sight. In March 2020, restaurateurs across the country have had to shutter their businesses in some cases literally overnight.

Insurance 217
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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. Take a hard look at your workers’ compensation strategy.

Insurance 208
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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.

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National Restaurant Association: We Need Help!

Modern Restaurant Management

” The Association proposed three separate categories of protection for industry restaurants and employees: directed/targeted financial relief; loans/insurance options for impacted small businesses; and tax measures. Loans/Insurance Options for Impacted Small Businesses.

Insurance 172
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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