Restaurant & Bar Insurance | Power Risk Management & Insurance

Can an Insurance Carrier Force You to Raise the Value of your Buildings?

Ted Apostolopoulos — Thu, 06 Apr 2023 00:30:09 +0000

Can an Insurance Carrier Force you to Raise the Building Value on your Insurance Policy? As a property owner, it is essential to understand the importance of insurance and the factors that can affect your coverage. One of the critical aspects of property insurance is the value of the property being insured, which is usually […]

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Managing your Claims after a Catastrophic Weather Event

Steve Mikuzis — Thu, 08 Dec 2022 00:56:02 +0000

Catastrophic weather events in the United States are on the rise – hurricanes, wildfires, tornadoes, ice storms – all cause significant property damage to owners. The toll is both financial and emotional for individuals dealing with the aftermath. Here are some tips to help you get through the insurance claims process a bit easier […]

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What is an “Excess Lines Insurance Carrier” and why are they important?

Steve Mikuzis — Mon, 24 Oct 2022 23:34:04 +0000

Excess or surplus lines insurance carriers are “non-admitted insurers” and that simply means they sell policies that are not backed by your state. These carriers typically don’t fall under traditional insurance regulations. Although some states do regulate them, the rules and regulations they follow are far less strict than those admitted carriers must adhere to. […]

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Why you should have a High Limit Umbrella Policy

Steve Mikuzis — Fri, 19 Aug 2022 00:15:50 +0000

One word: Litigious The hospitality industry is inherently a target for lawsuits – many of them frivolous, some valid and serious. Often, the restaurant or bar ends up on the “paying end” of the suit resulting in 5, 6, or even 7-figure payouts for the plaintiff. Perhaps one of the most notorious lawsuits is […]

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Indiana Liquor Law

Steve Mikuzis — Thu, 30 Jun 2022 23:55:24 +0000

Author: Mario Iveljic Business Risk Manager and Insurance Coverage Lawyer Restaurant and bar owners – do you think you’d have insurance coverage in this situation? You own 2 bars. Your employees at Bar 1 serve a patron with alcohol. Police are forced to remove the patron from Bar 1 as he got out of hand […]

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Protecting your Restaurant with Business Interruption Insurance

Steve Mikuzis — Sun, 08 May 2022 18:24:19 +0000

The US hospitality industry has suffered significant blows over the past few years. With a slew of unprecedented weather events such as tornadoes, wildfires and hurricanes added to a global pandemic – many restaurants and bars found themselves not prepared for the unthinkable. When your business closes due to an event that is no fault […]

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Restaurants – Understanding Employee Wrongful Termination Claims

Steve Mikuzis — Sun, 08 May 2022 18:06:07 +0000

Employees and Employers often are confused by the term “Wrongful Termination”. The EEOC – Equal Employment Opportunity Commission, noted over 62,000 wrongful termination cases in 2021 – that number does NOT include charges filed with state or local Fair Employment Practices Agencies. It’s not an insignificant number so it’s best to be prepared. This is […]

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