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Public liability and business insurance packs are essential for many hospitality venues. But if these are the only policies you have, you may be unprepared for other risks. Many types of insurance options are available to help hospo businesses manage unplanned expenses that could break the bank.

Cyber liability

Cyberattacks are more common and more expensive than you might think. Over 60 per cent of Australian small businesses have experienced a cyber security event, costing them an average of $46,000 per incident in 2023.

Hospitality venues often rely on tech (like computers, mobile phones, and POS devices) to run their businesses. Even having a website or social media accounts promoting your restaurant or café could also put you at risk.

Cyber Liability insurance* helps hospo businesses manage the costs of a cyberattack. Insurers also offer 24-hour incident response services with these policies — a valuable resource if you’re unsure where to turn for help when an attack or data breach happens.

Management liability

As a business owner, you have specific responsibilities when it comes to managing your restaurant or cafe. Actual or alleged wrongdoing may result in personal liability in some circumstances, putting more than just your business finances on the line.

Management liability insurance* is designed to provide protection to both the business and its directors or officers for claims of wrongful acts in the management of the business. A policy can help you manage the cost of OH&S incidents, unfair dismissal claims, sexual harassment cases, and more.

Tax audit

A tax audit is enough to make any hospo business owner sweat, even if your books are squeaky clean. Responding can be expensive, especially if the services of an external accountant are required.

Tax audit insurance* covers accountant’s costs incurred in responding to an audit or investigation by the ATO. As an optional part of most business insurance packs, these policies can help minimise financial costs if your restaurant or café is audited.

Switch and save with BizCover

Ready to add cyber liability, management liability or tax audit cover to your restaurant’s insurance menu? Compare quotes and get instant cover online with BizCover. You might also find savings on your public liability and business insurance pack at the same time.

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*This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.

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