Distinguished Blog - Hospitality & Restaurants
Market insights and industry news.
Why Cyber Insurance Is Critical for Limited-Service, Franchise Hotels’ Business Continuity
Hotels are favorite targets of cybercriminals, who are upping their game with increasingly sophisticated tactics to breach and shut down networks, demanding a ransom to get a system back online, and duping employees into providing confidential data and wire transfer of money. According to Cornell University and Freedom Pay research, 31% of hospitality providers have…
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Distinguished Rebrands Hospitality Umbrella Program to Reflect Different Niche Markets
Distinguished Programs has been insuring the hospitality industry for more than 25 years, providing high-limit Excess/Umbrella Liability coverage to protect against catastrophic losses. To better serve our agency partners looking for an Umbrella home for their accounts, we’ve rebranded our programs to reflect each market within the hospitality sector.
Specialty Insurance and Why Your Restaurant Clients Need It
Do your commercial clients really need specialty insurance? If it’s available, the answer is YES. The beauty of a specialty program is that insurance liability professionals with in-depth domain expertise have already put together coverage that is designed specifically for your type of client.
Restaurant Winterization Amid COVID
With months of shut down, public anxiety over dining out, and capacity limitations, the restaurant industry has been among those most affected by COVID-19. This year has undoubtedly been challenging, but luckily the industry has been able to get creative and continue operating — from expanding patios into nearby streets or pivoting to an entirely…
Water Conservation Tips for Buildings
It’s a no-brainer: Water=Life. We need it, we use it, but we have to conserve it better. Commercial and residential buildings can have a huge impact on water conservation with just a handful of low-cost or no-cost water solutions.
Resilience of Restaurant Industry Continues Amid COVID, Tough Insurance Market
The restaurant industry no doubt has been among the hardest hit amid the coronavirus as a result of mandatory lockdowns during the initial phase of the pandemic and subsequent ongoing capacity restrictions and other requirements that have significantly impacted operations. Yet during these challenging and unprecedented times, we’ve seen the industry put its creativity to…
NYC Restaurants Getting the Support of Local Government Amid COVID
According to the National Restaurant Association, some 100,000 of the one million restaurants and bars operating in the U.S. before the pandemic are expected to permanently close by the end of this year as a result of the economic upheaval caused by the coronavirus. But municipalities around the country, including in New York City, are…
Fire Safety Maintenance and Prevention Tips
While deaths from fires have steadily decreased over the past several decades, thousands of Americans die by fire every year, and thousands more are injured. According to FEMA estimates, the damage from fires cost over $25.6 billion in 2018 alone. Following a summer of record-breaking wildfires, comes the peak time for fire-related deaths: the winter…
Builders Site Protection and Market Changes
The pandemic caused unprecedented business closures during April and May across the country, particularly in the hospitality and retail sectors; sent professionals home to work remotely; emptied out office buildings; and shut down construction projects. We offer some insights on what we are seeing to date in both our Vacant Building and Builder’s Risk &…
Preventing Slip and Fall Insurance Claims
Year after year, slips, trips, and falls remain the number-one insurance claim for property owners. More than three million people visit the emergency room each year because of falls, according to the CDC (Centers for Disease Control and Prevention). The average hospital visit costs $30,000 to $50,000. Add in factors like ongoing medical bills and…
Business Interruption COVID-19 Litigation Continues
The coronavirus pandemic brought businesses to its knees, shuttering everything from restaurants to hotels, gyms, hair salons, retailers, and other establishments. Many business owners turned to their Business Interruption (BI) insurance policies to cover loss of income and to pay ongoing expenses like payroll, rent, etc. Yet BI policies are designed to respond only if…