Alcohol-Related Liability

Protecting Yourself From Alcohol-Related Liability

If patrons consume alcohol on your business’ premises, it’s important that you have good liquor liability insurance. This coverage, which comes in two main forms, can help protect you from liability issues that may occur in situations where alcohol is present.

Who Needs Coverage?

You may think that if your business doesn’t sell or serve alcohol that you don’t need liability protection. However, if your business allows patrons to consume alcohol on the premises, even if you don’t provide it, you’ll want to have protection.

Liquor Liability

The first type of liquor liability coverage is for businesses that sell or serve alcohol themselves, such as restaurants or bars. It can cover legal expenses resulting from injury or  caused by an intoxicated person on the premises. 

Host Liquor Liability

Host liquor liability insurance is ideal for businesses like venues or restaurants that do not serve alcohol themselves but allow guests to bring it onto the premises. It covers many of the same expenses as standard liquor liability coverage.

If alcohol is consumed on your company’s premises, whether or not you sell it yourself, you need to have good liquor liability insurance. This ensures that you are protected in case of accident or injury relating to the consumption of alcohol.

Restaurant Insurance

Why You Should Consider Purchasing Restaurant Insurance

Being the owner of any business comes with a certain amount of risk. Owning a restaurant is certainly no exception. It is vital that you reduce this risk as much as possible whenever you can. A great way to do this is by purchasing a restaurant insurance program.

Why Is Restaurant Insurance So Important?

Restaurant insurance can go a long way towards protecting the business you’ve worked so hard to build. No matter how hard you try to keep everything running smoothly, things do happen. Things like accidents, fires, and vandalism are a constant possibility and you don’t want to have to cover damages out of pocket.

What Kinds of Coverage Do You Need For Your Restaurant?

Generally, there is no one plan that will cover everything you need insured. There are a few different types of coverage available that should protect you across the board. First, you need general liability insurance which protects against property damage and injuries that occur to the general public. You also need workers’ compensation to protect your employees in case they are injured or killed while on the job. Other types of coverage to look into are employment practices liability insurance and liquor liability coverage.

Owning a restaurant is not easy. Having the right insurance plan can make a huge difference.

EPLI Coverage

Why EPLI Coverage Is Important for Your Business

Employment Practices Liability Insurance safeguards your business from lawsuits alleging discrimination, wrongful termination, sexual harassment, and other employee-related allegations.

Does Your Business Need EPLI?

Employee lawsuits are growing and EPLI settlements are getting more costly. Companies of all sizes are subject to this risk, and your general liability insurance does not typically cover these types of lawsuits. Additionally, legal fees are expensive, even if you are not at fault.

What Claim Types Does EPLI Cover?

This type of insurance covers many kinds of employee lawsuits, protecting you from claims such as:

  • Wrongful termination
  • Sexual harassment
  • Discrimination
  • Mismanagement of benefit plans
  • Failure to promote
  • Wrongful discipline
  • Emotional distress
  • Wrongful demotion
  • Libel or slander/defamation
  • Hostile work environment

What Protection Does EPLI Provide?

Employment-based claims sometimes cost hundreds of thousands of dollars. This specialized coverage helps cover EPLI settlements, judgments against your business, and defense costs against the claims.

How Much Does EPLI Cost?

Insurance companies consider the type of business, the number of employees, the turnover rate, and the claims history when determining the premium rates. Consult an insurance agent with EPLI experience as well as knowledge of your industry for the best results.

Business owners face significant liability with these types of employment practice claims. If your firm has employees, you should have EPLI coverage.

Tail Policies

Tail Policies Deliver Peace of Mind

Liability insurance coverage is given in most businesses. However, policies do expire and sometimes companies need extended coverage to ensure they are protected from financial risks. In these circumstances, industry experts recommend tail policy coverage.

Tail Coverage Explained

A tail policy, also known as an Extended Reporting Policy, often shortened to ERP, allows the insured to make claims even after the initial policy expires or is canceled, as long as the act upon which the claim is based occurred during the policy term. For example, if a company paid for a liability policy for one year and then chose not to renew it, that company could purchase tail coverage for an additional year. This tail policy would allow that company to file claims against acts that took place during the initial insurance term.

When Tail Policies Help

Tail policies are helpful in multiple types of situations but especially during times of change such as when a company is being sold. While that business may choose not to renew its policy, it still needs protection during the process of changing owners. Tail coverage provides just such coverage, as that company can still make claims based on its original insurance. Tail policies are purchased for specific time periods and cannot be lengthened.

Extended reporting period coverage, or tail policies, offer business owners and managers peace of mind. They provide a financial safety net during transitional periods. When company executives and employees are protected, they can carry on with business as usual.