On March 2, The Seattle Restaurant Alliance held an in-person/virtual hybrid meeting, many thanks to Hot Stove Society for hosting. The first portion meeting featured a presentation from our Insurance Program discussing how policies react to claims involving break-ins and criminal incidents. Thank you to Jim Chesemore and Lynsee Weigand from Parker, Smith & Feek.
Here are a few highlights:
- The number of claims during the pandemic have skyrocketed compared to the normal average.
- Working with brokers can increase competition with carriers.
- Insurance companies expect you to report incidents in a timely manner.
- If you are looking to renew your policy, start early and ask for options when it comes to coverage and deductibles.
In our second presentation, hospitality financial consultant Rick Braa discussed Paycheck Protection Program (PPP) loan forgiveness and answered member questions on the process.
You can view the PPP loan forgiveness presentation below or download it here
The next meeting will be April 6.