It’s almost the end of the year and while many people are looking forward to going on much-deserved holidays, this is one of the busiest times of the year for those in the travel and leisure sector. Guesthouse owners, or those running bed and breakfast establishments, have spent a lot of time and money preparing to welcome guests at this time. In fact, many are relying on this period for business, and they will do everything they can to make their guests feel at home.
However, one important element of their businesses that some of these owners ignore is proper insurance. Many believe they either do not need additional insurance because their current home or personal cover is enough, of they don’t have any cover at all. This is a dangerous belief. If you don’t have the correct cover for yourself, and your guests, any benefit your business may have now may be nullified if there’s a claim against you for whatever reason in the future. In this edition of the SATIB newsletter, we outline your responsibility as a guesthouse or B&B owner. It is important you understand this responsibility and adjust your cover accordingly.
Another area that you must consider as a business owner is that of security, specifically cyber security. Many businesses think they are immune to cyber-attacks when in fact they are ideal targets.
In this edition we explore what cyber-crime is, and what your responsibilities are in dealing with it effectively. And, yes, there is an insurance product which will cover you in the event of such an attack, even though this was previously an uninsurable risk. Please don’t let this important part of your business be ignored, the damage of such an attitude can be extremely detrimental to you and your business. Apart from securing your IT systems, it is also critical that you understand there are scammers everywhere intent on making your life a misery. Be careful of phishing – where you receive fake emails reportedly from reputable companies to get your personal information such as credit card numbers.
These practices are everywhere and if you fall into this trap, the consequences can be dire. As we enter the festive season, we trust you are all well prepared for what will hopefully be a bumper year for you, and that all the aspects of your business are adequately covered.
