THERE ought to be a smile today on the faces of those in the hospitality industry.
Why? Because Northern Ireland is a hive of tourism activity, with more than five million overnight trips here last year and an estimated expenditure of £968 million. An estimated 2.2 million hotel room nights were sold, with hotel occupancy at around 70 per cent.
It doesn’t feel like 'winter is coming' anytime soon for the sector, with our popularity with overseas visitors expected to continue, not to mention the 215,000 spectators due to descend on Portrush this week for The Open (up to 70 per cent of whom are expected to return).
A staycation boom, partly be attributed to concerns about Brexit, has also been a contributing factor towards such healthy figures. Indeed, a recent report by Barclays shows that holidaying closer to home is set to increase even further, particularly amongst the millennial generation.
Yet against the backdrop of such good news, there is a need for vigilance in the hospitality sector, namely in the area of insurance. More visitors mean greater footfall, not just in our hotels and tourism hotspots, but in retail, restaurants and pubs.
Forewarned is forearmed, so finding the right insurance cover for your business can provide the comfort needed to get on with running your business and embracing the tourism boom, rather than panicking if there is an accident or claim made against you.
So, what should you do? There is no 'one size fits all' cover when it comes to determining how you can protect your business with a policy best suited to your needs.
Having an experienced insurance broker visit your premises and take the time to understand the operation, the type of business, the potential risks and a safety-first approach, should be paramount.
A broker will make efforts to understand your business, its ethos and how you are a source of employment for the local community and a source of enjoyment for all who visit.
Precautionary steps can be taken to determine risks or pitfalls and ensure there is a level of excellence in your health and safety regime. An experienced insurance broker can offer strong claims management, which will help minimise potential claims under your public & employers liability.
Sadly, we have seen more and more cases of potentially fraudulent claims crop up in our courts. Businesses can be hurt by such claims and such wrongdoing can resonate and cause distress for business owners.
But protection is there in the form of a comprehensive CCTV system. You should consider installing such a system because it can shed undisputable clarity on an alleged claim. The best possible technology must be considered, namely one that has cloud based storage that removes the limitations of traditional 30-day recordings or staggered video footage.
In short, if a claim lands two weeks or even two months after an alleged incident, the evidence you need will be carefully stored and easily accessible.
Finally, let a broker help find the best possible insurance fit for you. This means identifying your needs where building and contents cover are concerned, determining the employer’s liability insurance that is best suited to you and ensuring there is additional stock cover for those bustling seasonal months.
:: Jacqueline McGivern is key account manager at Autoline Group
