Restaurant Segment Leader
Restaurants serve as keystones in every community, providing not only daily nourishment, but also places for people to connect, converse, and exchange ideas. The COVID-19 pandemic tested restaurant operators' resilience as never before, straining supply chains, putting massive pressure on cash flows, and opening them up further to cyber risks.
Yet the essential and inherent value of restaurants was highlighted, as owners and operators sought innovative ways to continue to serve the public, rethinking their business models and restoring normalcy during a challenging time.
The pandemic was just one test. Restaurants in many cities also experienced physical damage and temporary closures from civil unrest. Running a restaurant has always entailed risk — employee injuries and turnover, harm to brand or reputation, foodborne illnesses, the inability to get key supplies, and losses from hurricanes, wildfires, and severe weather — but recent history shows owners and operators have even more to consider.
Our team of restaurant risk specialists has a deep understanding of your industry and has tools to help your company assess and manage its risks, enhance its resilience, and continue to thrive.
Casualty losses are a significant driver of total cost of risk for most organizations. Spanning multiple disciplines and specialties, our liability risk specialists can help you analyze your exposures, identify and prioritize cost reduction opportunities, and optimize your casualty insurance and risk management program.
Given the complexities and pervasiveness of cyber risk, organizations can benefit from experienced risk advice when managing their exposures. We can help you assess and quantify your cyber risk, prepare for and respond to cyberattacks, transfer your risk, and build lasting risk management and resilience.
Business interruption resulting from natural disasters, fires, supply chain failures, and even cyberattacks can pose significant financial losses for companies operating in the global business environment. Our innovative insurance and risk management strategies can help you understand your exposures and build greater resilience.
Owners and operators of restaurants, whether in a single location or thousands, face risks from a variety of sources. Employee injury is a universal risk exposure, as are incidents involving guests.
The COVID-19 pandemic showed that emerging risks can have a major impact on organizations' resilience. Restaurant owners and operators should focus on a careful risk assessment of their entire operations and engage in business continuity planning aligned with strategic plans. Identifying and anticipating areas where breakdowns can disrupt your business is a critical step in risk preparedness.
Your business can improve its risk resilience by working with our experienced team of restaurant risk specialists.
One of the largest contributors to total cost of risk for restaurant companies is variable costs, including workers’ compensation. By leveraging analytics and digital platforms, companies can identify potential risk challenges early on and use predictive modeling to enable early intervention that can prevent these risks from becoming more complex and expensive.
The ability to analyze risks and benchmark performance can provide sustainable competitive advantages to your business. Marsh’s risk specialists have extensive experience helping restaurant businesses like yours understand and manage risks better, so that you can keep growing and serving your communities.
Restaurant Segment Leader