In many cases, the loss that can financially ruin your business is the loss you can’t see or touch. In the blink of an eye, your financial situation —nevermind your reputation — can go from solid to on the rocks in short order. When you’re in the pinch, the coverage you need may not be there because big-name insurance companies narrow policies to benefit the insurer rather than the insured.
Your restaurant services thousands of customers per year. One day, a hacker accesses your confidential data and steals the credit card information of 5000 patrons. Legally, you’re required to notify all individuals whose private data has been compromised. If each notification costs $250, that data breach can cost your restaurant over 2 million dollars.
Your restaurant hires a full-time server to provide excellent service to patrons. Unfortunately for your business, the service provided was less than excellent. As the hiring manager, you make the difficult decision to fire your employee on the basis of unsatisfactory work performance. Carlos, the employee, retaliates by claiming you fired him because of his ethnic background; a protected class under Title VII. The employee handbook has not been updated in a few years and does not have clear on-boarding and off-boarding processes explained within. The outcome of a legal suit costs your restaurant $500,000 in damages, not including costs associated with defending this lawsuit.
Your restaurant features a cash bar that’s heavily populated on Friday, Saturday, and Sunday nights. One of your patrons leaves the bar as lucid as could be and commits vehicular manslaughter on the way home. The victim’s family holds your restaurant liable and seeks $5,000,000 in restitution. As the owner, this amount can easily cause your restaurant to go bankrupt, but with the proper coverage in place, you can rise above the storm.
Our client contract takes you through a consultative six step planning process focused on your individual restaurant needs. We do this by creating, executing and monitoring an asset protection plan for exposures that are tangible and intangible.
Brian Kilcoyne marries restaurant owners with custom policies all throughout the Greater Boston Area. He prides himself in protecting your assets just as much as he takes pride in watching his son do battle on the wrestling mat and skiing with his family. No matter if he’s in front of a client or atop a mountain, Brian puts forth his best effort in everything he does.