article thumbnail

2022 Restaurant Insurance Update

Modern Restaurant Management

According to the National Restaurant Association , the dining industry should generate $899 billion in revenues in 2022. With change in restaurant management so dynamic, industry experts say that now is a good time to review and even revamp restaurant insurance policies. That’s up from $640 billion in 2020.

Insurance 208
article thumbnail

2022 Year in Review

Society Insurance

Society Insurance is committed to providing weekly blog posts to help business owners optimize daily operations and minimize risk. Top 10 Most Popular Posts of 2022. Top 10 Most Popular Posts of 2022. How to Avoid Time Management Mistakes. Leadership Tips For Non-Management. Safety Tips for Working in the Heat.

2022 98
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

An Insider’s Advice About Restaurant Insurance: Six Ways to Reduce Your Costs

Modern Restaurant Management

Restaurant insurance is complicated. Just as owners have to play many roles in management, marketing, and menus, their insurance has to protect their finances, patrons, and employees. And who has the time to read a 100-page insurance policy? These are often excluded from standard policies and be potentially costly.

article thumbnail

Q1 2022 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. Recent opinions in favor of insurance companies include a March 16, 2022 unpublished Ninth Circuit pane opinion in Steven Baker v.

2022 189
article thumbnail

NCR Reveals 2022 Hospitality Trends and Predictions

Modern Restaurant Management

Restaurant operators once again find themselves refocusing priorities and altering their plans for 2022. Here are some trends NCR is watching as move into 2022. Tackle the Labor Shortage with Hiring Incentives. Use Data and AI to Reach Out and Touch Your Customers. Hold the pickles but double-up on mayo. Gluten-free buns, please.

2022 189
article thumbnail

Restaurants Aren’t Raising Employee Medical Premiums, But Costs Are Going Up

Modern Restaurant Management

We warned that medical trend (the rate of increase in medical plans) would be increasing in 2022 and in 2023. Then we’ll review the best strategies for plan cost management. In our last article in MRM, we noted that none of our restaurant groups raised employee medical premiums for the 2022 plan year. Medical Trend.

Insurance 183
article thumbnail

Prepared to Win the War on Talent? Four Trends for Restaurant Operators to Consider in 2022

Modern Restaurant Management

As operators prepare for the months ahead, four trends, in particular, are likely to emerge in 2022. With upskilling comes the added benefit of bolstered confidence, a greater sense of belonging, and deeper interpersonal trust in managers. Data and technology management should become a core component of efficient restaurant operations.

2022 197