Fast-casual restaurants are up-and-coming, trendy establishments attracting a large part of our population.
The Commercial Line
One of the most important investments a business owner makes is the purchase of insurance. Insurance is a cost-effective form of risk management that enables businesses to protect employees, facilities, finances, operations and patrons in the event of the unexpected (i.e. an accident, fire, natural disaster, etc.).
If your business uses equipment, employs personnel or handles data, you can’t afford to be without equipment breakdown, employment practices liability and data compromise coverage.
According to AM Best, the line of insurance at highest risk for loss to a real estate owner is liability. As a landlord, you do not have total control over the condition of a tenant’s premises or how they operate their business. This exposes you to potential risk of property damage or liability from exposures presented by the tenant. Risk transfer is one helpful solution.
Less than a month after an elderly couple was found dead in a Boone, North Carolina hotel, an 11-year-old boy died in that same hotel room. Sounds like a haunted hotel, right? Not exactly.
For an agent or an underwriter, a distributor is not typically a difficult risk to evaluate. The client buys products from a manufacturer or another distributor, stores them in a warehouse, and re-sells them to retailers. If there is a U.S. product liability claim, normally the distributor will bring the manufacturer of the product into the case as a defendant (if the plaintiff has not already done so), and claim indemnity from the manufacturer as the party at fault.
Should raw milk sales and milk processing be handled by the government? Each legislative session sees more state rules and guidelines surrounding this process; however, the debate continues. Some business owners fight for the freedom to serve raw milk; others see it as unsanitary. Has your operation taken a side?
According to the National Weather Service, “In the United States, an average of 53 people are killed each year by lightning, and hundreds more are severely injured.” Lightning poses a great liability threat to those who work outdoors on a daily basis, like golf course owners and operators.
Each year, the Centers for Disease Control and Prevention estimates that approximately 48 million Americans get sick, 128,000 are hospitalized, and 3,000 die from foodborne diseases.
Do you think about where the food in a restaurant comes from before you eat it? The rise of food contamination concerns in restaurants has increased considerably during the past decade. There have been multiple cases of food contamination in popular restaurants like Chi-Chi’s and Wendy’s.