I was notified by via email from my bank that “We’re sending you a new debit card” because my card was identified as ‘at risk’ from the Target data security breach. I was shocked, not because my account might have been compromised as I am a frequent Target shopper, but because I was learning about this from my bank and … Read More
Workers Compensation Cost Containment Strategies
As a restaurant owner you have controllable costs and fixed costs. When it comes to fixed costs you hold onto your financial books and hope for the best outcome. However, you can proactively work to get control over your controllable costs, but it does take an effort. One such controllable cost is workers compensation. You’ll need to start by understanding … Read More
Tips to Reduce Restaurant Workers Compensation Claims
Outside of having a cost effective restaurant insurance program in place your restaurant needs to operate without mishaps and injuries to your employees as this can cost you greatly. As I previously explained your restaurant experience modification affects your restaurant workers compensation rates, the other area that directly affects the cost for workers compensation are your restaurant workers compensation claims. … Read More
How Your Restaurant General Liability Insurance Rate Is Calculated
Your restaurant general liability insurance rate is one cost which is factored into your total restaurant insurance premium. Due to the uniqueness of each restaurant an insurance company will assign a classification code, this classification code is used to set what is called the “liability base rate”. In my previous article How Restaurant Insurance Rates are Determined you learned how … Read More
Restaurant Data Breach (What you can learn from P.F. Chang’s)
When it comes to restaurant insurance you can no longer be narrowed in scope to what your risks are, the P.F. Chang’s restaurant data breach and the unfolding litigation is unfortunately a sign of what will continue to problematic for not just the restaurant industry but all industries. If the company followed the first restaurant best practice I wrote about … Read More