Chief NRA Economist Bruce Grindy recently released a commentary showing that the restaurant industry added locations last year at its strongest rate since 2007, and continued to outperform the nation’s overall private sector. This is a great opportunity for producers and retail agencies to “round out” their book of business in a growing field. Overall, the United States Bureau of Labor Statistics released figures showing restaurant location growth of 1.8%, nearly double that of the overall private sector.
States with the highest net location growth in the restaurant industry were:
1. Texas
2. New York
3. Florida
4. Illinois
States with the highest percentage growth in the restaurant industry were:
1. Arizona
2. District of Columbia
3. Indiana
4. Texas
Based on these numbers, restaurant insurance appears to be a ripe future field. Whether you are looking to expand into a new market, or merely wish to bolster one of your current specialties, let the experts at McGowan assist you. With more than 60,000 policies written in the hospitality and restaurant umbrella division, McGowan is America’s leading writer of specialized insurance programs.
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For more information, please contact:
Neil P. McGowan J.D., M.B.A.
National Production Underwriter – Restaurant Owners Umbrella Program
800.545.1538 x3651 • Visit Our Website
