2022 Restaurant Insurance Update

Modern Restaurant Management

With change in restaurant management so dynamic, industry experts say that now is a good time to review and even revamp restaurant insurance policies. “Along with making changes to their menu offerings and business models, many restaurateurs are also reassessing their insurance needs.”

2022 135

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. How do other industry experts see the restaurant and insurance landscape this year? Insurance Impact: Collect Less, But Pay More. The U.S.


Sign Up for our Newsletter

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

Trending Sources

2021 Restaurant Insurance Outlook: Updated

Modern Restaurant Management

With restaurants clawing back and facing new challenges like vaccine credentials and new COVID variants, it’s a good time to check on an equally important, if less prioritized corner of the American dining and drinking sector – restaurant insurance.

Post-Pandemic Insurance Liability Considerations All Restaurant Owners Should Be Aware Of

Modern Restaurant Management

Many restaurants turned to their insurance policies to provide protection for revenue reimbursement, (i.e., insurance proceeds for loss of revenue), but found the majority of insurance policies, unfortunately, did not / do not provide the coverage they anticipated.

Hard Insurance Market Presents New Challenge to Restaurants

Modern Restaurant Management

Restaurants are coming back saddled with a lot of risks in an insurance market that’s the hardest it’s been in over 20 years. It’s created an environment where insurance premiums on some lines are doubling (or more) if coverage is available at all.

Basics of Business Interruption Insurance

Modern Restaurant Management

Property Insurance + Business Interruption Insurance. Property insurance covers the replacement or repair of your business’s damaged physical property. Policies vary depending on the type of event leading to a loss and what, specifically, is insured.

What Restaurants Need to Know About Auto Insurance 

Modern Restaurant Management

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. If you hand them the keys to a company vehicle, it should be covered by a commercial auto insurance policy.

Hospitality Insurance Group Launches ‘Pay as You Pour’ Program

Hospitality Insurance Group

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. The Pay as You Pour program, offered in partnership with First Insurance Funding, will help businesses improve their cash flow by basing their bimonthly premium payments on how much liquor they sell. said Mark Trombly, Marketing Manager at Hospitality Insurance Group.

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.

All You Need To Know About Food Truck Insurance

The Restaurant Times

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. .

Insurance Agent Advertising

Indoor Media

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.

2018 78

How Business Insurance Could Save Your Restaurant from COVID-19

Modern Restaurant Management

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.

Insuring The Liquor Business

Hospitality Insurance Group

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. He spent most of his career at Travelers Insurance where he worked for 25 years, eventually rising to president and CEO of The Premiere Insurance Co. Q: How did you get into the insurance business? So, I looked at the insurance industry.

2018 60

Five Things You Need to Know About Restaurant Insurance

Modern Restaurant Management

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? Restaurant insurance is a catchall term that describes the types of insurance needed for a restaurant to stay protected and covered in case of accidents, damages, injuries and other unpredictable mishaps.

Georgia Judge Serves Ruling for Restaurants Hoping Business Income Insurance Will Cover COVID-19 Losses

Modern Restaurant Management

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.

Restaurant Owners Win Business Interruption Insurance Claims

Restaurant Engine

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.

Non-Admitted vs. Admitted Insurance for Restaurants, Bars or Taverns

Modern Restaurant Management

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. When it comes time to purchasing or renewing your insurance for general liability, liquor liability and other coverages, all policies are not created equal. There are differences between non-admitted and admitted insurance.

September 2018 Liquor Liability Insurance Policies

Hospitality Insurance Group

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. If you are an Independent Insurance Agent, click here to learn more about working with Hospitality Insurance Group to provide liquor liability insurance to your customers.

2018 60

Hospitality Insurance Group Commemorates First BOP

Hospitality Insurance Group

Celebrating the first BOP written by Hospitality Insurance Group are Richard Welch (President & CEO, Hospitality Insurance Group); Mark Colantonio (Sales Executive, John M.

French Court Orders Insurance Company to Pay Restaurant COVID-19 Claims

Modern Restaurant Management

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. What Is Business Interruption Insurance?

Hospitality Insurance Reopening

Hospitality Insurance Group

At Hospitality Insurance Group (HIG), we are pleased to welcome back the many fine establishments throughout our region that are an integral part of our economy. The post Hospitality Insurance Reopening appeared first on Hospitality Insurance Group.

Hospitality Insurance Group Bids Farewell to Retiring Board Member Gerald Cassidy

Hospitality Insurance Group

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. Cassidy served as the President and Chief Executive Officer of Hospital Underwriters Mutual Insurance Company (HUM) when he was a founding member of the board in 2008, and he delivered valuable guidance throughout his tenure. SOUTHBOROUGH, MASS.

2019 60

Health Insurance Requirements for Small and Medium Businesses

Hot Schedules

Health Insurance Requirements for Small & Medium Businesses. H ealth insurance is one of the most important benefits an employer can offer, regardless of size. businesses with more than 50 employees provide health insurance.

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

Modern Restaurant Management

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. Finance Law Operations ppp protection PPP insurance PPP

In Uncertain Times, Food Liability Insurance Helps you Prepare for the Worst

The Food Corridor

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. And there are insurers on the case, who want to help you find the right coverage at a reasonable price.

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

Modern Restaurant Management

Self-insurance is not for every employer, and the components must be properly constructed to generate savings and simultaneously, manage risks. A self-insured group will want to ask for their Rx contract to understand the discounts on drugs, along with rebates on specialty drugs.

2022 105

Do Restaurants Need Cyber Insurance? (Infographic)

Modern Restaurant Management

Could cyber insurance be an effective safeguard against future ransomware attacks? While not the front line defence needed to invest in the right people and tools, cyber insurance can cover your business from profit losses, liabilities and legal costs.

Pandemic Pivots Don’t Offset Restaurants’ Need to Manage Looming Risks

Modern Restaurant Management

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.

Four Things Bar and Restaurant Owners Should Consider in their Coverage 

Modern Restaurant Management

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.

Restaurant Surcharges – Health Insurance vs. Tips

Blue Orbit Restaurant Consulting

Ray Camillo – Founder & CEO, Blue Orbit Restaurant Consulting A few weeks ago, my wife and I ate San Francisco. A recurring line item on our checks was “EE Benefits Surcharge” or “SF Mandates” charge. My first reaction Read More.

Building a New Customer Base for Your Restaurant

Modern Restaurant Management

Society Insurance has compiled three tips to help find new customers for your restaurant and bar. Marketing Operations building a new customer base guests Society Insurance Customers

Why the Stop Loss Decision is Critical for Larger Self-Funded Employers

Modern Restaurant Management

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. Finance Law Operations stop loss coverage restaurant insurance insuranc

In it Together: taking on the insurance industry with Naomi Pomeroy & Robert J. Nelson


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.

August 2018 Liquor Liability Insurance Policies

Hospitality Insurance Group

Take a look at some of the liquor liability insurance policies Hospitality Insurance Group wrote in August 2018 including the type of coverage included, insurance discounts applied and a glimpse at the total insurance premium. If you are an Independent Insurance Agent, click here to learn more about working with Hospitality Insurance Group to provide liquor liability insurance to your customers.

2018 60

How Restaurants Can Prepare for a Safe New Year’s Eve

Modern Restaurant Management

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.

Count On Experienced Insurers for Your General Liability Needs

Hospitality Insurance Group

As part of an ongoing series to help business owners in the hospitality industry prevent losses, Hospitality Insurance Group is highlighting the common risks that could make businesses insolvent. President & CEO of Hospitality Insurance Group. Welch suggests working with an insurer that understands the risks a restaurant or bar might encounter to receive the proper general liability coverage needed.

Common Hazards Associated with Meat Smoking

Modern Restaurant Management

Society Insurance has established a list of meat smoking hazards and how to prevent these hazards from causing significant damage to one’s business. Society Insurance suggests taking all preventive measures to protect your employees and mitigate the risk of fire damage to your business.

National Food Safety Education Month: How to Mitigate Foodborne Illnesses

Modern Restaurant Management

In honor of National Food Safety Education Month, Society Insurance is offering preventive tips to help eliminate food-related illnesses from occurring in the food service industry. September is National Food Safety Education Month.

Protecting Your Business Against Copyright Laws

Hospitality Insurance Group

As President and CEO of Hospitality Insurance, Dick Welch, says, “as the owner of a bar or a restaurant, anything you put on your website, social media, or any of your promotional materials should be legally owned”.

For Restaurant Owners, Cybersecurity is a People Problem 

Modern Restaurant Management

That’s why it is so important for them to seek out comprehensive cybersecurity insurance solutions — created specifically to protect their business. Equipment Law Operations cybersecurity breaches cybersecurity insurance