Hospitality Insurance Program: Key Coverages

The hospitality industry is a dynamic and lucrative one. With services ranging from nightclubs to restaurants to lounges, these businesses face a unique set of liability risks. Therefore, securing your clients with the proper Hospitality Insurance Package to protect them from potential losses and ensure their businesses thrive. Here are a few key coverages that each policy should include to provide the most comprehensive protection.

General Liability- This will provide protection from property damage or if an employee or patron were to become injured on the premises.

Liquor Liability- This is arguably one of the most important coverages for restaurants, bars, and nightclubs. While serving alcohol is lucrative and drives business, violence related exposures undoubtedly come with it. Unfortunately, the damages can be quite severe including serious injury or death.

According to the Centers for Disease Control and Prevention, alcohol related crashes account for 31% of all traffic accidents per year. If a patron who was served at your client’s establishment gets into an accident, their business would likely come under heavy scrutiny and face severe lawsuits. This policy will protect these businesses from losses resulting from claimants seeking compensation.

Assault & Battery- If a patron or employee gets into a dispute at the establishment, this policy will provide coverage for any bodily injuries, property damage, and ensuing lawsuits.

Excess Liability- Modifying excess conditions for certain underlying coverages may be required. After evaluating their specific risk profile, your clients should have a solid grasp on which types of claims they are more likely to experience and therefore, where excess protection is needed.

Our specialists at RMS Hospitality Group can assist your clients in tailoring a policy to meet their specific needs. For more information about our offerings, contact us today at (888) 359-8390.