Businesses in the hospitality industry (bars, restaurants, hotels) provide a fun and relaxed atmosphere for clientele to briefly escape their everyday routines. While these establishments look for ways to distinguish themselves from the competition, they often share one common feature: a bar. Alcohol service, the commercial sale of alcohol, creates unique risks and exposures which business owners must not only address by having specific guidelines in place; they must also strictly enforce.
The Problem (more…)
Picture this: An elderly couple wakes up on a cold morning in the middle of winter and they head out for breakfast. On their way, Lenny and Gertrude decide to swing by your business. They pull in and park their car. Lenny rushes out to open Gertrude’s door, as he has done thousands of times before. In his haste, poor Lenny doesn’t notice a small patch of ice on the ground and he slips, breaking his hip. Lenny doesn’t believe your business caused the fall and refuses to turn in a claim. However his healthcare provider, knowing the incident occurred on your property, has gladly decided to pursue a claim on his behalf and begins sending threatening letters to your business.
As a claims professional, hundreds of claims cross my desk in a given year but no claim type matches the frequency and severity that comes with slips, trips, and falls. Often times these falls occur as a result of snow and ice in a parking lot that is serviced by a contractor or as a result of rugs delivered by a linen provider. It’s only after a claim has occurred that a second thought is given to that contract you signed with a service provider that ended up stuffed into the bottom of a filing cabinet somewhere. The simple truth when it comes to liability is that those contracts do matter. They may not always be iron-clad but they can help or hurt your bottom line. (more…)
Did you know the largest single claim type, in terms of frequency and overall claim cost to Society Insurance insureds, is the slip/trip and fall claim? In 2014 alone this type of loss was close to 50% for both liability claims received and liability payments. How do you tackle such a giant loss leader you ask? I think of it this way; the best way to eat an elephant is one bite at a time. Let’s break this down, one bite at a time. (more…)
Can we all agree that there is actually something comforting about looking out the window on a cold winter’s day and seeing a nice new blanket of snow on the ground? Particularly if that snow is no longer on the sidewalks, parking lots, or road ways?
If you are a business owner and you share this sentiment, you have probably long ago thought through what is required for your business to attend to the needs of clearing your adjacent sidewalks and parking lots. You have done this to provide safe access to your building for your customers and employees.
If your solution to this matter has included hiring a snow removal contractor, you’ve probably executed some sort of agreement for this service. This agreement likely has included the level of service they will provide and how much it will cost. But, did the agreement also include language that makes it clear who will be responsible for an accident on the sidewalk or in the parking lot while the snow is being removed or after it has been removed? (more…)
Everyone knows to be careful during the winter months when temperatures dip below freezing and there’s snow or ice on the ground.
What people often neglect to consider is that hazards still exist in the summer months, both indoors and outdoors. In fact, it’s the element of surprise that can make summer slips, trips and falls more severe than those that occur in winter.
Slips, trips and falls are the second-leading cause of employee injury nationally, with these types of injuries increasing by 41 (more…)
As a business owner, you never expect the worst. But you can plan for it. Umbrella liability coverage can protect your business against catastrophic losses. An umbrella policy provides an additional coverage over your primary businessowners, business auto, or employers’ liability coverage limits.
Why should you consider an umbrella policy? (more…)
You’ve found the perfect rental space for your business: prime location, low utility costs and ample space, all for a rental price that’s right on the money. But have you considered what property insurance you need?
To protect their property and shield themselves from liability, lessors can stipulate the types of insurance tenants must purchase. The result is that businesses sometimes get saddled with expensive or hard-to-find coverage.
Before you put your name on the lease, make sure you carefully review the details with a legal representative and ask yourself these important questions. (more…)