Risk Management in the Hospitality Industry
Risk Management in the Hospitality Industry While every business owner faces a certain number of risks, the hospitality industry seems to face a fairly large
How much you will pay to insure your hospitality business is determined by a variety of factors, including but not limited to:
By reaching out to us to request a quote, we can gather more detail to see what options are available for your business.
Below are some types of insurance that hotels and similar businesses should consider. If your hotel, motel, bed & breakfast, or other business has employees, most state laws will require you to carry workers’ compensation insurance. Talk with your local agent about what other policies your business should consider.
A critical step to protecting your hotel or hospitality business is reviewing your insurance coverage. You don’t want to find out after an event that you did not have the coverage you thought you had. Regularly reviewing your coverage with a local agent is one way to measure whether or not your policies meet your needs. Whether it is protecting you against customer liability or providing coverage for your property, all hospitality establishments should have a plan for responding to risk.
Many businesses within the hospitality industry sell alcohol. You could be held liable if someone becomes overly intoxicated and gets into an altercation or is involved in car accident while behind the wheel upon leaving your establishment.
Employees who are serving alcohol should be trained to know when a customer has consumed too much and know what to do to prevent excessive drinking. If you sell or service alcohol, Liquor Liability coverage should be part of your insurance portfolio. You should also make sure that you know and are compliant with all applicable federal, state and local laws and ordinances regarding the sale and/or service of alcohol.
Whether your hotel or bed & breakfast has never offered employee benefits or you are looking for a more comprehensive plan, we can work with our carriers to offer you health insurance plan options. If you are looking to offer vision and dental benefits for your employees, we would be happy to discuss options with you. We have partnerships with the nation’s leading carriers as well as regional insurers to offer a variety of plans. We’ve helped thousands of businesses throughout the Northeast provide benefits for their employees, and would be happy to work with your business.
Risk Management in the Hospitality Industry While every business owner faces a certain number of risks, the hospitality industry seems to face a fairly large
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