Whether you own a charming café concealed in an alleyway, a family pizza restaurant or a hipster cafe in the heart of town, your hospitality business has likely been hit-hard by the challenges of the pandemic. As the hospitality industry climbs back onto its feet, we want to make sure your business is ready to take on the rush.
At Western General Insurance, we’re backing the current buzz of Australia’s cafés, restaurants and bars. So, we’re here to make sure that you have the appropriate hospitality insurance in place to mitigate your business’s unique risks.
Business risks in the hospitality industry
Interacting with customers, storing supplies, working with equipment and managing employees are all daily duties for the average hospitality business owner. Whether you’re just starting out or have been in the game for years, no hospo business can completely minimise the hazards associated with its daily operations. But it sure helps to be well-aware of the key risks to look out for, including:
- Customer incidents: from food poisoning and allergic reactions to slips and falls, customer incidents are common within the hospitality industry. Hopefully, you already have the necessary precautions in place to minimise these incidents, including the correct food storage, cleaning regimes and allergen advice.
- Employee incidents: if your staff operate dangerous equipment or handle heavy items, injuries can occur from incorrect manual handling. Make sure your employees are trained and educated on the correct procedures.
- Cyber security: cybercrime is on the rise throughout Australia, with businesses being targeted frequently since the start of the pandemic. All hospitality businesses should have data safeguards and procedures in place to mitigate cyber exposure.
- Premises and equipment safety: gas appliances, pipework and electricity must be maintained through frequent inspections. Conducting regular walk-through checks yourself and hiring qualified professionals to inspect your facility is critical.
- Food safety and kitchen maintenance: the regulations for food safety and requirements of your registered kitchen can differ based on the location you’re based. It’s best to check your local, state and federal government requirements to make sure you’re adhering to the appropriate standards.
Your insurance safety net
Even with the correct safety measures in place, no business is exempt from unexpected incidents taking place. That’s where business insurance comes in handy – providing protection when you land in hot water. Your business is unique, but some hospitality insurance covers are common practice:
- Public liability insurance is designed to help protect your business if a customer or a member of the public are injured or endure property damage as a result of negligent business activities. For instance, slips and falls due to a wet patch caused by a leaking appliance at your premises.
- Property insurance is common in hospitality, protecting you from loss or damage to your business tools, equipment, contents, stock or a building. This could be caused by a fire, explosions, malicious damage or storm damage at your premises.
- Business interruption covers a deficit in your gross profit if your business operations are interrupted by a covered incident – for example, a gas leak at your store. If your business is unable to continue as normal, then this insurance can help you get back onto your feet as quickly as possible.
Depending on the nature of your business, you might want to look into other hospitality insurance covers – such as commercial motor insurance, glass breakage, portable property, employee dishonesty or personal illness.
Tailored hospitality insurance for your business
Did you know that business insurance is flexible and can be easily customised to meet your business’ needs?
What’s more, Western General has a wide range of options to cover your business, from public liability cover to protection for your work equipment, commercial vehicles, and more. We’re here to take the headache and hassle out of your insurance! Contact us today to find out more.
General advice warning
The information above may be regarded as general advice. That is, your personal objectives, needs or financial situations were not taken into account when preparing this information.
Accordingly, you should consider the appropriateness of any general advice we have given you, having regard to your own objectives, financial situation and needs before acting on it. Where the information relates to a particular financial product, you should obtain and consider the relevant product disclosure statement before making any decision to purchase that financial product.