2021 Market Update
The reopening of the economy has brought the restaurant industry roaring back from the depths of the pandemic. Necessity forced innovation around curbside pickup, outdoor dining, online ordering, and delivery. The most resilient brands have delivered on new customer preferences and positioned themselves to benefit as vaccinations picked up in the first half of 2021. That said, headwinds remain because of labor shortages, food price inflation, and lingering COVID-19 concerns. The net effect on risk and insurance is that restaurants must ensure their evolved business models and associated loss controls are properly communicated to underwriters.
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This material has been prepared for informational purposes only and was generated from information provided to BKS from the client and/or third-party sources. Therefore, BKS makes no warranty or representation(s) as to the accuracy or appropriateness of the data and/or the analysis herein. This information is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your tax, legal and accounting advisors for those services.