As the holiday season approaches, hospitality businesses such as restaurants, bars, and hotels must prepare for a surge in guests and events. This is a critical time for revenue generation, but it also brings increased risks. Insurance agents must help clients navigate these challenges to protect their businesses. RMS Hospitality Group offers essential insurance strategies and practical tips to safeguard your clients during their busiest time of the year.
Peak season typically spans the holiday period, from late fall through the New Year. During this time, hospitality businesses experience higher demand, with guests attending everything from holiday parties and corporate gatherings to family celebrations. In fact, the biggest night for your bar owner clients is the night before Thanksgiving.
With heightened activity, hospitality businesses face unique risks. Increased foot traffic, crowded spaces, and overworked staff can lead to more slip-and-fall incidents, equipment malfunctions, and other operational challenges. Insurance agents must ensure clients are prepared for these risks and properly covered to avoid costly consequences.
To help hospitality clients prepare, it's essential to recommend the right insurance coverage to mitigate potential risks. General liability insurance, for example, protects against claims of bodily injury or property damage, which are more likely during busy times when there is increased foot traffic.
Property insurance is equally important during peak season. With more patrons on-site, the chances of accidental property damage rise. This can include broken furniture, damaged fixtures, or theft. Property insurance ensures that businesses can recover quickly from such losses and continue to operate smoothly.
Additionally, excess liability insurance can provide an extra layer of protection for hospitality businesses during peak season. This type of coverage kicks in when the limits of primary liability policies, such as general liability or liquor liability insurance, are exhausted. Excess liability offers peace of mind, knowing your clients have additional coverage for severe incidents that might arise during this busy time.
In addition to recommending the right insurance policies, insurance agents can help clients by offering proactive risk management strategies.
Train staff effectively: Many hospitality businesses hire seasonal staff during peak times of the year. Ensuring all workers, even temporary hires, are well-trained on safety protocols, customer service, and emergency procedures can reduce risks.
Enhance safety protocols: Encourage clients to review and update their safety measures. Simple actions like posting clear signage, securing slippery areas, and maintaining adequate lighting can prevent many accidents.
Plan for operational disruptions: Peak season often brings unexpected challenges. Clients should have backup plans for equipment failure, staff shortages, and closures. Regular equipment maintenance and contingency planning can help minimize disruptions.
At RMS Hospitality Group, we understand the unique challenges hospitality businesses face, especially during peak season. Our expertly crafted insurance solutions are tailored specifically to the needs of the hospitality industry, ensuring businesses are covered for the risks they face during high-demand periods. We work closely with insurance agents to provide the resources and support needed to offer comprehensive coverage to clients.
Whether recommending the right insurance products or helping agents develop proactive risk management strategies, RMS Hospitality Group is here to safeguard your clients’ businesses during their busiest time of year.
For more information on how RMS Hospitality Group can support your clients with tailored insurance solutions, contact us today.
At RMS Hospitality Group, our expertly crafted policies are written specifically for the hospitality industry. We offer custom-tailored solutions to meet any venue’s specific needs. For more information, contact our knowledgeable experts today at (888) 359-8390.
At RMS and associated firms, business continues as usual. Our staff is remote-capable and available to handle all partners, brokers, and insureds at the present time.
