Modern Restaurant Management

MARCH 10, 2022

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. How Insurance Policies React.

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Modern Restaurant Management

AUGUST 6, 2021

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. ” Key Insurance Issues for Restaurant Owners. Vaccine mandates.

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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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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

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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Modern Restaurant Management

MARCH 12, 2025

Society Insurance has spent 110 years helping protect businesses and has seen firsthand how nuclear verdicts have evolved in the U.S. Even if a restaurant doesn't face a verdict, the prevalence of such cases can drive up insurance premiums industry-wide, increasing operating costs. Recent data shows that U.S.

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Modern Restaurant Management

MARCH 3, 2025

Variety of Voluntary Benefits : Voluntary benefits can include personal insurance policies like pet, travel, car and homeowners’ insurance, with a discount for enrolling in coverage. In fact, 69 percent of employees rank pet insurance as the most significant voluntary benefit an organization can offer.

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Modern Restaurant Management

JANUARY 2, 2025

A beer and wine license allows restaurants to craft a unique cocktail menu featuring wine-based liquors without the need for liquor insurance or the extensive paperwork associated with a full liquor license.

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Modern Restaurant Management

DECEMBER 16, 2024

Simplify Health Insurance Open Enrollment Health insurance is one of the most valuable benefits you offer, so make open enrollment a central, streamlined year-end activity.

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2025 Restaurant Law Audits Employee Relations 449

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

OCTOBER 11, 2024

Benefits and Protections Full-time employees are often entitled to benefits such as health insurance, paid leave and retirement plans, whereas part-time and temporary employees may not be. Relationship of the parties − are there written contracts or employee-type benefits, such as a pension plan, insurance or vacation pay?

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Audits Employee Relations Restaurant Law Document 418

Modern Restaurant Management

OCTOBER 22, 2024

The former are entitled to benefits such as minimum wage, overtime pay and workers’ compensation insurance. Independent contractors, meanwhile, may not get these benefits in exchange for having more freedom and control over their work, while holding responsibility for their own taxes and insurance.

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Modern Restaurant Management

NOVEMBER 13, 2024

It is also critical for restaurant owners to have some form of liquor liability insurance coverage to protect themselves from any liability from unforeseen alcohol-related tragedies. Before Drinksgiving or any other night of high alcohol consumption begins, there are several strategies or tools a restaurant owner can implement.

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Modern Restaurant Management

MARCH 11, 2025

From a legal perspective, Insurance : the pandemic highlighted the limitations of insurance policies. Several high-profile restaurant groups brought litigation against insurance companies for their coverage position, but were ultimately unsuccessful.

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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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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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Modern Restaurant Management

OCTOBER 19, 2023

What may be overlooked within it are risk and insurance issues. Many franchisors have dedicated staff in charge of maintaining the FDD, although tech solutions are increasingly available, offering efficient, integrated and customizable tools for managing insurance and compliance requirements. And there’s a lot of value to that.

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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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Modern Restaurant Management

JULY 14, 2023

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.

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Modern Restaurant Management

DECEMBER 31, 2020

In that case, there may not be any insurance outside the driver’s personal auto insurance. If you’re contracting with a third-party delivery service, let your insurance agent know. Your agent can review the contract to determine what types of insurance you may need to protect your restaurant.

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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

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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Modern Restaurant Management

SEPTEMBER 10, 2024

This is where compulsory liquor liability insurance becomes critical, as it protects businesses that serve, sell, supply, or distribute alcohol. However, relying solely on liquor liability insurance may leave businesses exposed to costly risks. A compelling example is Palmetto Brothers Dispensary in Laurens, South Carolina.

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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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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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Restaurant Business

JANUARY 13, 2025

California was already a challenging insurance market because of fire risk. The ongoing crisis is only expected to make it worse.

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Modern Restaurant Management

JUNE 26, 2024

While maybe less cute than National Pet Day (4/11) and less tasty than National Cheeseburger Day (9/18), National Insurance Day on June 28 encourages businesses to review their policies to ensure financial success and safety for all involved. This can be hazardous to you, your employees, patrons and the building.

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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

JUNE 9, 2021

Based on the above, owners and employers that choose to require a vaccine should understand how their approach could impact their workers’ comp insurance liability. Many states also have individual guidelines as to what is covered under workers’ comp insurance for adverse reactions to voluntary vaccinations.

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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

NOVEMBER 17, 2020

It’s a lawsuit under Part B of workers’ compensation insurance – a claim of “willful neglect” that has been rare until this year. It might be smart, for example, to add workers’ compensation as an underlying policy to your umbrella/excess insurance at limits that are appropriate for the circumstances.

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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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Bar Insurance Restaurant Law Point of Sale 450

Modern Restaurant Management

OCTOBER 3, 2024

Society Insurance has been working alongside business owners for more than a century, seeing first-hand the devastating effects a fire can have on the establishments that make communities great. These fires caused 3,790 civilian fire deaths and 13,250 reported civilian fire injuries.

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Modern Restaurant Management

NOVEMBER 17, 2023

Liquor Liability Insurance protects a small business that manufactures, sells or serves alcohol. Without Liquor Liability Insurance, owners of restaurants that serve alcohol could end up footing the bill for damages made by a drunk customer. Promote ridesharing apps as a convenient way for patrons to get to and from your bar.

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Modern Restaurant Management

AUGUST 5, 2024

Restaurants should consider vetting third-party vendors to performing these functions, and ensure those vendors are properly insured. Restaurants should also consider their own insurance coverage for cyber risks. What are the best practices for brands to handle a breach?

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Modern Restaurant Management

DECEMBER 26, 2024

For more than 100 years, Society Insurance has been providing coverage to hospitality businesses. The Future of Nuclear Verdicts Society Insurance expects more of a discussion around nuclear verdicts and, ideally, an elimination of nuclear verdicts in favor of fair and just verdicts for restaurants.

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Modern Restaurant Management

SEPTEMBER 24, 2021

“There are certainly lower fees the marketplace will charge if you handle the delivery in-house, but the insurance, staffing, and additional costs that come with in-house delivery may get pretty close to comparable, if not more,” he said. ” Costs aren’t the only thing that should be top of mind when making this choice.

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