This important protection, also known as income coverage, can help you continue making money if a covered event causes financial hardship for your hotel. Imagine an ice storm causes your restaurant's roof to cave in, rendering your office inaccessible. If you have business interruption insurance, you can use the money to pay for a temporary office location while the roof is being fixed. Remember that there are limitations on this coverage and that you'll have to pay out of pocket before the insurance company pays anything. Semel risk consultants insurance experts are here to walk you through the policy's interruption coverage provisions.
Host Liquor Responsibility
This special insurance addresses your legal responsibilities for your customers while serving alcoholic beverages. A “host” may be held legally responsible for an intoxicated guest's actions if the guest causes injury to himself or others. If the injured person chooses to sue, your legal defense expenses would be covered by your host liquor liability insurance policy. Tell your insurance agent about upcoming events so they can advise you on whether or not host liquor liability coverage is required.
Should I get my employees covered?
If you have employees who potentially be hurt on the job, worker's comp is a good idea. Despite your best efforts to avoid them, mishaps may and will occur. Workers who sustain injuries may collect medical and salary replacement benefits through this insurance. Unlike general liability insurance, the employee must waive their right to sue the company for the occurrence. In Canada, employers are required to provide workers with compensation.
Nevertheless, businesses in Canada are required by law to acquire this coverage through their state's workers' comp agency. This would be the WSIB in Ontario and the CNESST in Quebec. The consequences of disobedience may be severe. To find out whether your current commercial insurance policies are enough to protect your workers, consult a Semel risk consultant professional.
