Just as Singapore started to let 5 vaccinated diners from different households to gather at restaurants and eateries, a fire broke out at La Taperia, a Spanish restaurant under the Les Amis Group, at Shaw Centre in Orchard. As a result, lunch bookings at the restaurant had to be cancelled and shoppers had to be diverted away from the affected area entrance.
With the untimely occurrence of the fire, the restaurant will not only face lost earnings for the day, it also likely faces loss of earnings for the coming days as well till repairs and investigations are completed. This is known as business interruption in insurance terms.
On top of that, the restaurant may face damages and repair bills from neighbouring units whose units got burnt by the fire as well, also known as public liability in insurance terms.
This illustrates the importance of having a simple yet effective insurance in place, especially for those in the food and beverage (F&B) sector. With an off-the-shelf package, one can easily be covered for fire outbreaks, business interruption losses, coverage for public liability including claims relating to food poisoning, and theft, on top of other coverages. The best part: All these can be gotten without breaking the bank, as such policies for restaurants and food places usually cost in the hundreds.
Contact MAKinsure today to get a quote and ensure that your business has the protection it needs!