Tag: hospitality insurance

food safety, hospitality insurance, restaurants, cafe, buy cafe insurance, pub insurance

6 Ways to Minimise Your Hospitality Risk

Allsure Insurance’s Melissa Donaldson will be featured in Insurance Adviser magazine next month for her expertise in hospitality insurance. In the meantime, here’s some tips on how to minimise your hospitality business risk.

There are plenty of measures you can take to help protect the future of their business – here’s 6 you can start with today!

  1. Having your canopies cleaned regularly is not only a great idea, in many cases it’s a condition on your insurance to have a maintenance program.
  2. Take steps to minimise fire risk, such as installing an automatic fire suppression system and portable fire extinguishers, and scheduling regular electrical equipment maintenance and exhaust system inspections for grease build up.
  3. Tea towels have also been known to spontaneously combust, so keep them where no damage will be done.
  4. You also can reduce your risk with good policies and procedures. Keep good documents on cleaning, food supplied and staff training.
  5. Take temperature on new food stock into the business, record it. If you keep food warm, you should keep regular checks on temperature. Know when food went in, and when it should be thrown out.
  6. Make sure all your staff have food handling training. Have regular meetings with your staff about potential areas of risk, and record the date and topic of those meetings.

Have questions, need help or want a quote for your hospitality insurance? We’d be happy to help.

This information doesn’t take your personal or financial situation into account and may only be regarded as general advice. You should speak to us or your insurance broker before taking action. And, of course, always read the fine print (i.e. product disclosure statement) before purchasing any financial product.

tourism insurance, hospitality insurance, Hobart, Tasmania, Geelong, Victoria, Melissa Donaldson

Allsure Insurance Director Melissa Donaldson featured in tourism insurance article

We’re pleased to note that our own Melissa Donaldson was featured in a recent NIBA Insurance Adviser national industry magazine for her tourism and hospitality insurance expertise. See below for a few excerpts of her quotes and comments from the article.

Making sure clients are fully insured against more possible outcomes

Melissa was the very first quote in the article, noting “We as brokers have increased opportunities to make sure clients are fully insured against more possible outcomes, as many clients only take the basics of cover.”  She stressed that in regards to liability, “We’ve seen more and more liability claims, many are simple trip and falls.”

There’s more to tourism insurance than just liability insurance covers

But insurance can do more than protect your business from customers tripping or falling on your premises, Donaldson says, “Having the right insurance can also cover the ‘products’ clients make (such as wine) and things like product recalls.”

Asking the right questions is vital, according to Donaldson. She asks clients things like “Do you have the public on site? Do you attend trade shows, markets or festivals? Can you afford to replace your business assets in the event of an accident or extreme weather event?” These answer to these questions all factor into putting the right insurance solution together.

Cyber risk and tourism insurance?

With many travel and tourism operators doing business over the internet, the increase in cyber-related events is a genuine concern. Data breaches, system hacks and malware risks have the potential to put tourism companies either temporarily or permanently out of business.

Donaldson states: “More automation and technology bring increased risks, with more businesses selling online and having a web presence, nearly every business faces at least some level of cyber risk.”

To sum it up

“Putting together a good insurance solution, including things like key person insurance, good life policies, management liability, D&O insurance, natural disasters and business interruption insurance helps to position the business to financially survive.”

You can read the full article (PDF) here including Melissa Donaldson’s list of six things that brokers and clients need to know about arranging tourism insurance (also find it online here).