Receiverships + Whistleblowers + Reducing Risk of Fraud + Restaurant Scams + Cyberattack + QSR Insurance

State of Play

Bankruptcies in the hotel industry haven’t been as prevalent as predicted at the beginning of the pandemic. The industry expected to see a tidal wave of bankruptcies due to the business impact from COVID-19, from stay at home orders and non-essential designations, to lack of leisure and business travel even as restrictions were lifted. Instead, there has been an uptick in receiverships, which are faster, cheaper and more flexible.

A receivership can:

Be a helpful tool for a lender to gain control of the property pending foreclosure, put in new management (if needed), address performance issues, and possibly sell through a court fiduciary.
Put pressure on a borrower to find new financing/come up with financial proposal to address delinquencies – "put their money where their mouth is."

From the Great Resignation to inflation to shifting dining patterns, quick-service restaurants today could easily let insurance slip to the back burner.

But with risks ranging from fires, to food safety, to slip and falls, and even robberies, properly insuring your quick-service restaurant might be the difference between a successful year and a disaster.

Types of policies
Just like any business, quick-service restaurants have many options to manage their business risk: business owner’s policies, workers’ compensation, general liability, commercial auto, cyber, and many more.