This post came to mind as I recently had my credit card number compromised. Yes, I fell victim to a credit card theft while on vacation at a restaurant/bar…thankfully, my credit card company caught the theft early and contacted me. The sad fact is, this type of crime is growing at a tremendous pace. We have identified the Restaurant and Bar business as a potential hot spot for these thefts to occur. Once again, the new liability is data….not just premise, or product liability….but actual data, whether your employees are running credit cards, or have access to client’s numbers; data liability is the hot subject. And if that information is compromised the PCI compliance fines can strangle your revenue and cause an extreme amount of paperwork, lost time, may even put your small business under.
The good news is there are new insurance policies to protect privacy and security. These restaurant policies are designed to cover the breach, and things like PCI compliance fines, etc.
If you are looking for help with property and casualty restaurant and liquor liability insurance products drop a line here.