Employment-Related Practices Liability
Lawsuits have become increasingly common for vulnerable businesses without proper insurance. In order to avoid claims of harassment, wrongful termination, breach of contract, or other work-related issues, it’s important to shield your business from potential liabilities.
As a business that sells, serves, or manufactures liquor/alcoholic beverages, you need liquor liability insurance in order to protect your assets from a lawsuit or claim. This type of coverage is not included in general liability, which is why it’s necessary to purchase separately to protect your business from unexpected situations.
No two restaurants are the same – and that can be said for the type of establishment being run and the amount of money that it brings in. A restaurant owner’s business income policy is tied to the profit that their restaurant brings in, and in order to keep their head above water, having good coverage for the restaurant is always a good idea.
Spoilage or Contamination
Spoilage or contamination insures restaurant owners from messy situations. In the event, your restaurant equipment does not function, and the food is inedible due to being spoiled or contaminated then this specific insurance coverage protects your business from paying out-of-pocket and avoid lawsuits.
Abuse and Molestation
Abuse and molestation coverage is often overlooked and purchased at the bare minimum since organizations believe this may never happen. However, for social service organizations, especially ones that serve young children or vulnerable individuals, this coverage protects everyone under it.
Crime insurance coverage is not typically offered within general commercial property insurance. This type of coverage protects against the loss of money, securities, or other assets that result from the act of employee theft, some types of fraud completed by a third party (ex: fraud), property stolen from the premises, and social engineering (AKA impersonation fraud).
Sexual Molestation or Misconduct
An organization that provides services for youths, senior citizens, or disabled individuals should consider this type of coverage. This type of coverage protects a business from allegations of sexual abuse or misconduct from individuals associated with the business.