Industry: Multi-Location Restaurant

Challenge: Increasing Premium and High Claims Payouts

Key Takeaway: Lack of security measures and proper documentation led to an increase in insurance premiums. Investing and implementing new protocols reduced their premiums and decreased paid claims.

Impact: $300,000 Savings in Premiums & 93% reduction in paid claims.

29% Premium Saved in One Year
46% Premium Saved to Date
93% Reduction in Paid Claims

The presence of security cameras for business owners is not just an option but an absolute necessity. For one of our restaurant clients in the tex-mex space with 12 locations, adding security cameras transformed their business operations. By having visible cameras, this client not only enhanced their security, but it increased their operational efficiency and helped lower their premium by $300,000 in just one year. This client is now able to monitor employee productivity, track inventory, and ensure that proper safety protocols are being followed.

Like any chain restaurant with multiple locations, accidents are bound to happen, leading to injury claims from both customers and employees. Unfortunately, the company lacked the necessary documentation and evidence to defend itself, resulting in a colossal increase in their insurance premium—from $350,000 to a staggering $1.2 million. Collaborating with Hotchkiss Insurance, our experts worked with the client to get their premium down substantially. We offered three transformative strategies to prepare them for future claims.

The first suggestion was to install security cameras across all twelve of their locations. This investment was around $70,000, providing concrete evidence for future claims and deterring potential fraudulent claims.

Secondly, our agents conducted comprehensive incident report training for all the restaurant managers. Armed with the knowledge to document incidents accurately, the company is better equipped to handle claims efficiently.

Lastly, they implemented a robust filing system to ensure all critical documentation could be accessed when needed.

This company listened to the advice of our experts and deployed these changes in all 12 of their locations. After just one year embracing this new protocol, their premium plummeted from $1.2 million to $900,000. And they didn’t stop there. By continuing to meet these standards, their premium continues its steady descent, currently at $750,000, with projections indicating further reductions annually.

Due to the utilization of irrefutable evidence and incident reports, the company slashed the number of paid claims by an astounding 93%. The results speak for themselves—security cameras and the right procedures can provide substantial savings and unparalleled protection.