How Your Restaurant Liquor Liability Insurance Rate Is Determined

Mark StraussBusiness | Commercial Insurance

Restaurants that sell, serve, or assist in the purchase or use of liquor have a rate exposure that affects how restaurant insurance rates are determined. Your restaurant liquor liability insurance rate is calculated by taking your gross liquor sales multiplying it by the insurance company’s modified base rate (Liquor Liability Exposure (liquor sales) X Modified Base Rate = Premium). Insurance … Read More

Six Ways Your Restaurant Can Prevent Cyber Crime

Mark StraussBusiness | Commercial Insurance

The data breach at Target should make you nervous. The reason is not because of the personal data that may have been stolen, but the way hackers infiltrated Target’s systems. Published reports state it is likely that the breach went through a refrigeration and HVAC contractor in Pittsburgh that had connected to Target’s systems to enable system maintenance, electronic contract … Read More

Tips to Reduce Restaurant Workers Compensation Claims

Mark StraussBusiness | Commercial Insurance, Worker's Compensation

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

Mark StraussBusiness | Commercial Insurance

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)

Mark StraussBusiness | Commercial Insurance, Cyber Liability | Data Breach

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