It’s not about bread and butter issues anymore
Food and drink insurance. Will it be a recipe for disaster?
Or the champagne on ice?…
It’s a tough gig…running a food or drink business, literally, if you provide entertainment too.
And recently, it’s got much tougher:
- The Living Wage
- Brexit staff shortages
- Exchange rate food price increases
- Local authority rates increases
‘Bread & Butter’ issues
‘Bread & Butter’ issues have been overtaken by a spectacular increase in costs. Lots of businesses are struggling to cope. If ever there was a time to think about new ways to control costs, that time is now.
But why do food, drink and entertainment businesses pay big insurance premiums we hear you ask? Well…
- There are about 8000† commercial kitchen fires in the UK every year.
- Slips & trips, spills, knife cuts, wet floors, naked flame, boiling liquids, burns…
- Cleaning chemicals, lifting, mechanical equipment, glass breakage, food poisoning…
- Time pressure, back pain, dermatitis, gas safety, ventilation, heat… the list goes on, along with a tidal wave of regulation and legislation…
‘A recipe for disaster’ or ‘the champagne on ice’
Complacency is the active ingredient in a recipe for disaster and cheap ingredients seldom equal quality.
Business owners weary with overheads, brokers obsessed with ‘targets’ can become mesmerised by the single, shining prize, but all that glitters is not gold. There is no such thing as ‘cheap insurance’, it’s an oxymoron, like ‘the living dead’, which is what half of all businesses become on the morning after the fire.
So, what’s the answer?
At the Business Insurance Bureau, we know that it’s not about how cheap you make it, but how you make it cheaper. Here’s how we can save you money and protect your future:
And as if it wasn’t hard enough…
There are four, great, indisputably UGLY TRUTHS about business insurance that could stop your claim in its tracks, and your business. Did you know…
- Insurance companies dispute 50% of all large claims from businesses* (that’s worth reading twice!)
- They do this for two reasons:
- breach of policy conditions (which you never read or remembered)
- inadequate information disclosure (which you didn’t think important at the time).
- It takes 3 years on average‡ to resolve a large disputed claim (if you can resolve it!). Meanwhile, without cash flow, your business goes into administration.
- This is why 43% of businesses experiencing a disaster NEVER RECOVER*, not because they have experienced a disaster, but because their insurance is a disaster!
On the morning after the fire, your insurance premium no longer matters. It’s about what’s next and what went before. We’re sleeping with the enemy, but the enemy is not the cold-hearted insurance company, it’s our own complacent attitude towards purchasing a complex contract upon which our entire future rests.
Bob the Broker’s business philosophy!
Making it cheaper, by doing it right™
There is only one legitimate way to make your insurance cheaper – cutting down claims by controlling the risk.
That takes partnership, relationships, service commitment, expertise and ‘going the extra mile’.
No one else will provide this – a Risk Management Rebate Voucher worth up to
£500.00 † towards the cost of:
Cleaning Kitchen Extract Systems • Fixed Electrical Testing • PAT Testing • Fire Risk Assessment • H&S Compliance • Security Compliance • ISO Accreditation • and other deserving risk improvement features
Not only that! We also…
- Offer multi-location discounts on top of your rebate
- Offer two to three year deals, with a no claim bonus!
- We give you a rebate every single year, per location that you renew on our unique facility and get the risk improvements completed and verified.
- Tailor the policy conditions around your kitchen routines, not your routines around the policy conditions.
- Run a reminder service to help make sure you don’t miss compliance and policy dates.
- Provide a claims and risk management co-ordination, so you can concentrate on your business.
Keeping your claims low and your premiums lower, we’re making it cheaper, by doing it right™
Don’t wait, call Bob and the team now!
†Terms and conditions apply. Rebates are calculated based off your final premium amount and on receipt of legitimate certification that the work has been carried out. The £500 figure is based on a sample of 101 clients who received a rebate between 2016-2017.
*sources: business continuity institute/london chamber of commerce and industry ǂft.com July 2014 MacTavish