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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 213
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How Business Insurance Could Save Your Restaurant from COVID-19

Modern Restaurant Management

Some of our Washington and Oregon hospitality clients shut down early, while others waited for a government order; some shut down entirely, while some have tried to stay afloat by moving to to-go and delivery only. All of them have asked us for help in saving their businesses and helping their employees. Document Everything.

Insurance 217
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Assessing Coronavirus Insurance Coverage Risks for Restaurants

Modern Restaurant Management

For that reason, restaurant and business owners typically carry business income coverage, also referred to as business interruption coverage, which is insurance coverage intended to replace lost income in the event business is halted or interrupted for some reason, such as a natural disaster.

Insurance 123
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New PPP Loan Insurance Covers Food Service Establishments if the SBA Later Finds They Were Ineligible for the PPP Loan Program

Modern Restaurant Management

Businesses that benefited from PPP loans were required to meet the “necessity certification” requirement and consider alternative sources of liquidity, while also taking into account “affiliated” businesses, prior to submitting a loan application. Have 500 or fewer employees, taking into account any and all affiliates.

Insurance 162
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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. And document every action you take to support a safe workplace. Think wellness.

Insurance 208
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What to Include in Your Restaurant Employee Handbook

7 Shifts

The words ‘employee handbook’ are enough to make any new hire quiver. Having to spend a shift—or even worse, your after-hours—reading through an employee handbook will sap the fun out of any new restaurant job. The introduction to your restaurant employee handbook Think of your employee handbook as a welcome to your restaurant.

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[Study] The Great Resignation is here. What 3,700 Restaurant Employees are Looking For To Stay Engaged

7 Shifts

of employees rated sanitation efforts of ultra-high importance, with an average score of 4.1 Employees aren't satisfied with their current wages. Nearly half of all restaurant employees are hovering in the range of $11-15/hour (45.8%). 73% of those employees still receive tips. Employees want schedule flexibility.