Hospitality Insurance & The Hospitality Sector
The hospitality sector is finally opening up and things are slowly but surely going back to normal. The hospitality industry has a unique set of challenges, especially with the continued contact with the members of the public. This sector brings additional exposures, so risk management is vital to ensure services are delivered in ways that will limit liability.
Hospitality insurance will cover restaurants, hotels, private members clubs, late-night bars and casinos. These premises can be high-risk environments for both employees and customers. For smaller businesses such as pubs, B&Bs and takeaways, this can make choosing insurance cover a confusing task.
Business Interruption
Business interruption insurance is one of the most misunderstood types of insurance. Business owners believe that other insurances will take care of everything should operations be interrupted – this is incorrect. Business interruption insurance has become even more important during the COVID-19 pandemic as business interruptions are happening a lot more frequently. For many businesses, not having business interruption insurance can lead to a business closing down altogether.
Stock In Transit
Owning a business in the hospitality sector means you will have many goods delivered to your premises daily, whether this be alcohol, food, etc. Goods in transit will cover a business against loss or damage of these goods whilst they are travelling from one place to another, or being stored during a journey. This can cover domestic and overseas travel.
"From a customer service perspective, they have made it impossible for us to look to go anywhere else. No problem is ever too big and no call is ever inconvenient. I have recommended Brunel to a number of my contacts." - Engineering client, Brunel Insurance Brokers
We are truly independent, meaning we can go to the whole market seeking the best deal for our clients.
We have been awarded Chartered status. This is testament to our expertise, industry knowledge and excellent client service.
Our in-house claims team will deal with any claims that may arise in an efficient, personal and professional manner, leaving you free to continue with the important work of running your business.
We are the right people for you
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Public Liability Insurance
Public liability insurance is perfect for all different sizes of business across a range of industries. It covers you if a client or member of the public claims that they have been injured, or their property has been damaged, because of your business activities. This is especially important in nightclubs and pubs where accidents are more likely.
Loss of Licence
In order to sell alcohol, a business or premises will need to have an appropriate alcohol license in order to operate within licensing laws.
A license can be revoked or not renewed for a number of reasons, including public safety, the sale of alcohol to minors and crime.
If you lose your licence through no fault of your own, your business could suffer. Loss of licence insurance will cover you against any losses which may be incurred.
This is a risk that could cause a number of problems for your business, and it is a risk that will need to be managed and approached effectively.
This can massively affect the way that your business operates and its credibility, potentially even discouraging clients from visiting your establishment.
Employers Liability
If you have employees, contractors, casual workers or temporary staff, you are required by law to take out employers’ liability insurance. It will cover claims from employees who’ve been injured or become seriously ill as a result of working on the premises.
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Business Contents
Business contents insurance is a type of business insurance that can protect the processions and equipment in your work premises. A typical business contents insurance policy will cover you from damage or loss to furniture as a result of flood, fire and theft.
Event Insurance
Special event insurance is an insurance policy that helps protect your investment in a special event, such as a wedding. It will help cover your costs if you unexpectedly need to cancel your event or if you’re found responsible for property damage or an injury caused during your event.
High footfall brings potential exposures, so you may want to consider these optional covers too:
– Cost of obtaining alternative accommodation for guests
– Guests’ and customers’ personal effects and valuables
– Full theft
– Loss of attraction
– Environmental liability
– Notifiable disease cover
– Subsidence
– Computer breakdown
– Equipment breakdown
– Employee theft
– And more…
Find out which of the above you will need for your business on 0117 325 2224 where one of our specialists will advise you further.
Business Interruption During The Pandemic
During the pandemic, hospitality businesses claimed business interruption insurance. At the start insurance companies were reluctant about this as of course, we have never experienced anything like this before. The courts ruled on the specific wording of the policies, including clauses relating to disease and prevention of access. More information on this can be found on the Supreme court website.
If you have any questions regarding your insurance requirements, click here or contact our hospitality sector specialist Matt Lea at mattl@brunel-insurance.co.uk. He will happily advise on your level of risk and guide you through potential areas of cover.
