Changes in pace and perspective have forced entrepreneurs in the HoReCa industry to find effective and creative solutions to the problems they encounter in their day-to-day activities.
In order to deal with unforeseen situations, operators and investors have to demonstrate good risk management. Unfortunately, risks cannot always be avoided, they can easily turn into vulnerabilities for a business, but they can be insured.
According to the CNIPMMR study carried out in the summer of this year, the complex and difficult context of today, considering the post-Covid period and the effects of the war in Ukraine, determined entrepreneurs t to reconsider more than before heir need for the following risk management methods: specific insurances ( 59.83%), European funding (14.53%), marketing campaigns (11.54%) and training programs (3.70%), others 10.40%.
The most likely risks perceived by HoReCa representatives are: meteorological phenomena, migration caused by climate change and health, and Groupama’s answer to these needs is a series of solutions to secure the continuity of their businesses in case of unforeseen events.
From fire, lightning, explosion, damage to insured buildings by road vehicles or catastrophic risks, to accidental damage to water and sewage systems, to heating and air conditioning systems, as well as damage to electrical and electronic devices, flooding from neighbors or theft, risk remains an element that can destabilize any balance. And although no one can guarantee complete safety, the right insurance can guarantee the continuity of personal or business plans when unforeseen situations occur. By opting for Property insurance, you will have the certainty that, regardless of the risks to which the buildings are exposed, be it hotels, restaurants, guesthouses, canteens or the insured goods, machinery, stocks of goods, materials and raw materials, you will more easily overcome any problems , both financially and in terms of the time needed to repair the damage. The latter usually mean the interruption of business and the generation of losses. In addition to property insurance, you can also insure gross profit losses caused by the temporary, partial or total interruption of activity, following insured events.
On the other hand, entrepreneurs certainly strive to provide the best experience for customers, but there may be situations where things get out of control and cause material damage or body injuries to tourists, customers, suppliers or employees. In such cases, civil liability insurance is the right solution to minimise the financial impact on their business.
For example, based on the civil liability insurance of tourist and hotel establishments, entrepreneurs can receive compensation for the legal costs and for the amounts to be payed as damages compensations to customers, as a result of:
- body injury and/or damage, destruction or loss of material goods belonging to them, left in the allocated accommodation spaces or at the hotel reception, cloakroom, cloakroom, laundries
- the food or products consumed by them
- improper cleanliness and safety conditions of the accommodation, treatment, leisure spaces, of the furniture, interior arrangements, sanitary and electrical installations, linen, crockery
- loss, destruction or damage of original documents, left by them in order to complete, register and take into account the customers at the reception of the hotel, motel, etc. (e.g. identity cards, passports, birth certificates, accommodation statements, etc.) and the amounts spent in order to reconstitute, restore or replace these documents.
If the space where you operate is rented, with the civil liability insurance against the owner and the owner against the tenant you have the necessary financial support to cover the damages caused by your company, in various situations, through body injuries and/or damage, destruction or damage to goods belonging to third parties, as a result of acts produced accidentally, through negligence or imprudence.
And because employees are the most important resource and the labor market in the field is very volatile, now, more than ever, offering a stable and well-paid employment contract is no longer enough. Health, life or travel insurance have gone from optional benefits to essential benefits. Among the most important employee benefits:
- Hospitalization and surgery health insurance for small and medium-sized businesses offers employees financial support to more easily overcome medical situations that require hospitalization and/or surgery in any private or state hospital, supplementing state insurance and private medical subscription .
- Comprehensive health insurance offers outpatient medical services and inpatient medical services and surgical interventions in packages with predefined or configurable coverages.
- Group life insurance provides financial compensation to employees and their families in the event of death, temporary incapacity for work, partial or total disability, serious illness, etc., these amounts supplementing services in the state system.
- Travel insurance includes emergency medical assistance and repatriation, additional trip cancellation (Storno) insurance, provides cover in the event of illness or death. In the case of additional travel interruption/extension insurance, events caused by the insured’s isolation or quarantine abroad are covered.
Challenges and difficult times are part of any entrepreneur’s journey – you can’t either predict or avoid them, but you can secure your business with the right insurance policy. We hope this material has helped you discover and better understand how an insurance policy can help you.
Take the step towards an insured future and ask for an insurance quote.
Write to us at relatii.clienti@groupama.ro or call our AloGroupama call center at tel. 0374 110 110 from Monday to Friday, between 8:00 a.m. and 6:00 p.m. or write to us directly on the website https://www.groupama.ro/contact or choose our network of agencies and collaborators.