Hotel and Pub Insurance
Hotels, pubs and bars have a huge range of differing niches due to a wide and diverse range of consumer tastes. Business Insurance Specialists are active as an insurance broker providing bespoke insurance solutions to a full range of businesses such as Hotels, Bars, Tavern, Nightclubs, Resorts, Country Pubs and Gentlemen clubs.
We appreciate that no premises are the same, and insurance needs to be tailored to reflect that risk. With all the requirements from federal, state and local council laws and regulations, to the award system risks abound. Add in the highly competitive nature of your industry and importance of protecting cash flow, risk is a major component of operating your business. Business Insurance Specialists can provide insurance solutions to address potential issues.
Business Insurance Specialists has developed strong relationships with a number of insurers who provide insurance coverage at competitive premiums for the Hospitality industry. Insurance markets for Hotel, Pub and Bar insurances are located in Australia and overseas and we have access to these markets.
What are Property risks to Hotels and Pubs?
Fire and property damage risk is quite high due to having food preparation on premises, many electronic and electrical appliances as ignition sources.
The frequency of vandalism and arson risks from intoxicated patrons is well known, and a decent fire load consisting of liquor, fixtures and fittings and kitchen materials is understood.
What are Liability risks for Hotels and Pubs?
The risks of operating a Hotel establishment. Liability insurance is required for the following types of potential risks.
We see potential injury risks at the premises arising from the operations at restaurant, bar, car park and beer garden, Liquor liability exposure. Standard slips and falls and intoxicated guests will be a main source of claims and caution is required where a facility offers playground or play areas for children. The serving of hot food and beverages increases the chance of burns or scalds also.
Cyber risk for Pubs, Hotels is quite high as evidenced by the theft of customers data from the Marriot Hotel chain. Approximately 500 million customers had personal information stolen.
Some of these potential risks include dependency on digital technology/integrated IT systems for (e.g. reservation management/online booking, point of sales, housekeeping management, stock management etc.), Security/privacy breaches presence of large volumes of sensitive personal and cooperate data (e.g. guests' data including credit card data, employees' data etc.) and lack/inadequate security of Wi-Fi-networks - hackers can easily target insured's network and put guest's data at a high risk.
A Hotel insurance programme should consider coverage for Property, Business Interruption, Liability, Management Liability, Cyber and Corporate Travel.
For an open discussion about your insurance needs for your Hotel, Pub or Bar, contact Business Insurance Specialists today for a no-obligation quotation.