If you own a restaurant, you have specific types of risks that you have to deal with. Your risk management plan must cover the perils that most restaurants face. This includes liquor liability if your restaurant serves alcohol. Personal liability and property damage are also common risks for restaurants. Before you create a risk management plan, you need to come up with a list of risks that you want to address.
What Are the Benefits of a Good Risk Management Plan?
The benefits of a good risk management plan include being able to offer employees a much safer work environment. As a result, your insurance costs will be lower, and you will be able to run your restaurant more efficiently. Another benefit of a good risk management plan is that you will know what types of insurance you will need to protect your business sufficiently.
Creating a Risk Management Plan
Once you know what type of risks you need to address, you can begin to put a plan into action. It’s important to provide a safe and productive workplace to your employees. Part of this involves providing each employee with the training they need to work safely and efficiently. As you work in the food industry, you will also need to train employees on the proper way to handle and store food. Managers must also follow safe practices when it comes to cybersecurity and handling money.
Who Needs the Liquor Liability Insurance?
Any establishment that serves alcohol, be it a bar, pub, or restaurant, should carry liquor liability insurance. Serving alcohol opens up an entirely new line of risk that involves potential accidents that occur outside of the bar or restaurant. Liquor liability insurance protects you from liability associated with serving alcohol and possible damage caused by an over-served patron. Besides, there are now classes for servers and bartenders that teach them how to recognize a drunk patron.
How RMS Insurance Can Help You
When you own a restaurant, having an insurance provider by your side who understands the risks associated with your business is important. Our experts at RMS Insurance Brokerage, LLC have many years of experience and are committed to helping you run your restaurant business more efficiently. We can help mitigate your liability risks with our comprehensive restaurant insurance programs. If you want to learn more about getting the right coverage for your restaurant, call us today!