Pub Insurance and Bar Insurance can you Afford not to have it

The industry has a last chance to regulate itself.

If you run a pub, bar or restaurant you will know how difficult it can be managing all the different components and aspects of the business. If it’s not ordering the stock its managing the staff and if it’s not working the bar it’s paying the pub insurance, it’s none stop and for very little reward for many publicans at the minute. Fortunately though, a new legal frame work could be introduced in the UK to regulate pub companies if they do not react to the criticism regarding restricting competition in the sector.

A statement by the Business, Innovation and Skills Committee has been issued over the ongoing dispute as to whether the relationship between the pub companies and tenants are unfair. It is claimed that the pub company ‘beer ties’ often mean tenants already finding it hard to pay rents and rates have to purchase stock solely from their owner company at higher prices. The Committee stated:

“The industry must be aware that this is its last opportunity for self-regulated reform. Should those problems persist beyond June 2011, we will not hesitate to recommend that legislation to provide statutory regulation be introduced.”

The OFT ruled that there was no evidence to suggest unfair practice in the sector but with prices of stock rising it’s of up most importance publicans and restaurateurs get the best prices where they can, including insurance policies. This is one area you can’t afford to ignore as a saved expense. If the worst does happen you could lose everything.