Modern Restaurant Management

JANUARY 19, 2021

Consequently, as an owner, it’s crucial that you know what type of auto insurance you need to protect your business from a potentially crushing financial burden if you are sued. You may think a driver’s personal auto insurance would cover them, but most personal auto policies exclude accidents during food delivery.

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Modern Restaurant Management

JULY 15, 2022

The most important thing new owners should know about insurance coverage is that it’s a vital part of running their business. However, having proper insurance coverage is a huge part of protecting the business, and the ownership, in the case of an accident or incident. Getting insurance coverage is not just a box to check.

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Modern Restaurant Management

JUNE 23, 2021

But now as the cloud of COVID is starting to lift and things are going back to normal, it’s important to assess whether those things are actually covered on a restaurateur’s insurance plan. Reviewing current sales can help restaurant owners better reflect numbers to date, which can save them some money on their insurance.

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Modern Restaurant Management

MARCH 31, 2020

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.

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Society Insurance

OCTOBER 26, 2022

Odds are you understand why your auto insurance premium changes: as you age and become a less risky driver, your insurer is exposed to less risk, and your rates drop as a result. Below, we’ll explore some common drivers of restaurant insurance costs. Reinsurance, to put it simply, is insurance for insurers.

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Modern Restaurant Management

APRIL 21, 2020

In addition, most restaurants should have business interruption insurance, and that insurance may provide some relief from economic pain. Business interruption insurance covers the loss of income that a business suffers after a disaster. Gather Your Complete Insurance Policy. ” That’s just not true.

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Hot Schedules

MARCH 15, 2021

Health Insurance Requirements for Small & Medium Businesses. H ealth insurance is one of the most important benefits an employer can offer, regardless of size. According to the Kaiser Family Foundation , only 30 percent of US businesses with fewer than 50 employees provide health insurance to their workers. In short, no.

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Modern Restaurant Management

NOVEMBER 4, 2019

Between obsessing over food and finances, one key consideration shouldn’t fall through the cracks—restaurant insurance. Having trouble deciding what kind of insurance your restaurant needs? What is Restaurant Insurance? Why Do You Need Restaurant Insurance? What Does Restaurant Insurance cover?

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Restaurant Engine

JULY 5, 2020

Most insurance companies have denied claims from restaurant owners resulting from the COVID-19 pandemic. Business owners counterclaim they are entitled to benefits in Business Interruption Insurance policies that protect against lost income after a covered peril affects a policyowner. A third victory arrived when the U.S. ” .

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Hospitality Insurance Group

JANUARY 6, 2021

Hospitality Insurance Group is launching a new program that will give bars, restaurants, and any other eligible liquor liability policyholders more flexibility in how they pay their insurance premiums. said Sandra Haley, Senior Vice President of Underwriting and Marketing at Hospitality Insurance Group.

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Modern Restaurant Management

MAY 1, 2023

That's why it's essential for restaurants to consider cyber liability insurance. Protecting your Restaurant with Cyber Liability Insurance Cyber liability insurance is a type of insurance that helps protect businesses from the financial losses associated with cyber attacks.

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The Restaurant Times

SEPTEMBER 19, 2021

Time has never been better to open your food truck, and the most critical business step is investing in insurance. However, if you don’t have the correct insurance, your food truck might cost you thousands of dollars or perhaps your business in jeopardy in time of a mishap. . Food Truck Insurance Cost . Kind of Insurance.

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Indoor Media

MAY 10, 2018

As an insurance agent, building familiarity with consumers well before they need your service is an integral part of making the final sale. Shopping cart ads work because they are impossible to miss, and an insurance agent that has a strong local presence is one consumers feel they can trust. Establish a Foundation of Trust.

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Modern Restaurant Management

OCTOBER 16, 2020

As the surviving restaurants reopen and attempt to regain solid financial footing, many will look to their business insurance policies to try to recoup the income they lost. The virus or bacteria exclusion is a common exclusion added by many insurers after the global SARS outbreak in 2006. In Henry’s Louisiana Grill, Inc.

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Modern Restaurant Management

NOVEMBER 11, 2019

It is important for restaurant, tavern and bar owners to have the right insurance, however, there are so many different types of policies, and even when you zero in on what is needed, the options are often complex and difficult to compare. A non-admitted insurance company has not been approved by the state’s insurance department.

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Hospitality Insurance Group

OCTOBER 27, 2018

Insuring The Liquor Business. Title: President and CEO, Hospitality Insurance Group. For the last three decades, Richard Welch has held a variety of roles in the insurance industry in Massachusetts and Connecticut. After Travelers, Welch spent a few years as an independent consultant before joining Concord Mutual Insurance Co.,

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Modern Restaurant Management

MAY 29, 2020

In what has been a closely watched case, a court in France recently ruled that France’s largest insurer must pay on a claim brought by a restaurant forced to shut down due to the COVID-19 outbreak. Many insurance companies, however, have already begun to signal their intent to deny pandemic-related claims.

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Modern Restaurant Management

NOVEMBER 14, 2022

Odds are you understand why your auto insurance premium changes. As you age and become a less risky driver, your insurer is exposed to less risk, and your rates drop as a result. Below, we’ll explore some common drivers of bar insurance costs. Reinsurance, to put it simply, is insurance for insurers.

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Modern Restaurant Management

MARCH 9, 2023

Society Insurance, which provides coverage to the hospitality industry, has put together four tips on how restaurants and bars can help create a safer environment on St. Obtain Liquor Liability Insurance It is highly advisable to purchase liquor liability insurance if you operate a business that sells alcohol.

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Modern Restaurant Management

JULY 28, 2020

Consider PPP loan insurance to cover damages, legal fees and fines if the SBA determines that your business was ineligible for the loan. ” Get to Know PPP Loan Insurance. To obtain PPP loan insurance, applicants must submit: Analysis of how the affiliation rules apply to the business.

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The Food Corridor

SEPTEMBER 14, 2020

The way to mitigate the risk is to take out a robust insurance policy. However, anyone who’s dealt with an insurance broker probably knows how painful this experience can be. An insurance company’s job is to calculate risk and figure out how much to charge you based on the risk level of your business.

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Hospitality Insurance Group

OCTOBER 29, 2018

Take a look at some of the liquor liability insurance policies Hospitality Insurance Group wrote in September 2018 including the type of coverage included, insurance discounts applied and a glimpse at the total insurance premium. Type of Establishment. Restaurant. City, State. Springfield, MA. Total Premium: $13,200 (LL).

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Society Insurance

JANUARY 4, 2023

Society Insurance is committed to providing weekly blog posts to help business owners optimize daily operations and minimize risk. The post 2022 Year in Review appeared first on Society Insurance. Over the course of the past year, we’ve posted free content to help maintain employee satisfaction, prevent accidents, and more.

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Society Insurance

JANUARY 18, 2023

Contact your insurance company. Note: Society Insurance policyholders can call 888-576-2438, ext. At Society Insurance we are committed to providing meaningful protection for your business. Contact your local Society Insurance agent to discuss the details that make the biggest difference for your unique operation.

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Hospitality Insurance Group

MAY 16, 2019

(May 16, 2019) — A founding member of Hospitality Insurance Group’s Board of Directors has retired. Gerald Cassidy, who brought decades of insurance experience and knowledge to the Board, announced his retirement on May 8, 2019. President & CEO of Hospitality Insurance Group. “I About Hospitality Insurance Group.

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Modern Restaurant Management

SEPTEMBER 6, 2022

Ahead of this year’s football season, the team at Society Insurance has put together the top four tips on how a restaurant and/or bar can protect themselves, their patrons and their employees as well as create a safer environment for football season and beyond. Obtain Liquor Liability Insurance. Eventually conflict can happen.

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Modern Restaurant Management

DECEMBER 23, 2021

Ahead of New Year’s Eve celebrations, Society Insurance, which provides coverage to the hospitality industry, has put together the top four tips on how a restaurant can protect themselves, their patrons and their employees as well as create a safer environment on Dec. Obtain Liquor Liability Insurance. 31 and beyond.

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Modern Restaurant Management

JUNE 14, 2022

Longer term savings opportunities will take a concerted effort, and these are areas for review: Self-insured versus fully insured : Plans with more than 150 employee participants are likely strong candidates for self-insurance; and those between 100 and150 employees may also find self-insurance attractive.

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Modern Restaurant Management

AUGUST 31, 2021

With the laundry list of everything bar and restaurant owners need to handle on a daily basis, proper insurance coverage should be top priority. Proper communication with the insurance agent about all the ins and outs of the restaurant can help set up the policy right from the get-go.

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7 Shifts

JUNE 23, 2020

Auto insurance. Get car insurance You must establish who is liable in the event of an accident. Drivers must have auto insurance in order to drive their vehicles, thus you must lay-out in the contract if you will be paying for any damages while on the job. Auto is in quality shape. Valid driver's license. Clean driving record.

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OpenTable

AUGUST 13, 2020

After months of shutdowns due to the coronavirus pandemic, restaurants have looked to their insurance policies for financial help – only to be denied coverage for claims. The only way to do that is if we have an industry to make better, and that means holding insurance companies accountable. Register for free for upcoming webinars.

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Modern Restaurant Management

JULY 16, 2021

In this changing environment, the right and adequate amount of insurance protection has never been more important. There’s a price for the unrelenting barrage of natural disasters, and it’s making excess liability insurance hard to find above standard liability limits.

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7 Shifts

MAY 18, 2023

Employees are typically subject to more oversight and are entitled to benefits like minimum wage, overtime pay, and workers' compensation insurance. On the other hand, independent contractors have more freedom and control over their work but are responsible for their own taxes and insurance.

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Society Insurance

OCTOBER 19, 2022

One of the ways the insurance industry mitigates the negative effects of inflation is through what’s commonly referred to as inflation guard. Inflation Guard is the automatic annual increase in property values on an insurance policy to help keep up with rising costs of construction. What Is Inflation Guard? What Is Coinsurance?

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Modern Restaurant Management

NOVEMBER 16, 2021

On a basic level, stop loss insurance provides protection against catastrophic or unpredictable losses. A basic rule of insurance is that over time, the less insurance purchased will result in a lower cost. Stop Loss Coverage Is Risk Management. a lower deductible).

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7 Shifts

MAY 2, 2023

I mean, they have access to all different kinds of insurance like health insurance, which we contribute to. We do a high deductible health insurance plan, but we couple it with a direct primary care membership, which we cover half the cost of. It gets it out of the insurance. Direct primary care is amazing.

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Society Insurance

DECEMBER 13, 2022

Finally, report the incident to your agent and insurance carrier as soon as possible. Society Insurance’s risk control team is always available to help you establish a good accident reporting and investigation program for your operation, so we can make sure the health and safety of every customer and employee is priority number one.

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