Ideal Accounts and Appetite
This program accommodates a broad range of hospitality accounts, including those that often fall outside standard admitted markets. RISCO can consider:
- Frame and non-sprinklered buildings
- Protection Class 9 and better
- Coastal, seasonal, and tourist-driven operations
- Entertainment venues and dance floors (subject to underwriting review)
- Restaurants and bars at any level of liquor sales — from BYOB and no-liquor restaurants to bars with high liquor revenue
The program also handles accounts with ancillary operations, such as catering services, banquets, incidental leasing (LRO), and owned apartments or dwellings attached to the business.
Coverage Highlights and Advantages
RISCO packages core and hospitality-specific coverages to simplify placement and reduce the need for multiple policies. Available coverages include:
- Property coverage with Equipment Breakdown
- Crime coverage and Property Enhancement Endorsements
- Commercial General Liability (CGL) with Full Assault & Battery for restaurants (sublimits apply for bars)
- Integrated Liquor Liability within the package
- Hired & Non-Owned Auto Liability
- Employee Benefits Liability
- Umbrella Liability, including options to address liquor exposures
These options are available under a single package policy to streamline administration. The program's published minimum premium starts around $1,500 for the full package; specific pricing will depend on exposures and territory.
Underwriting Flexibility
RISCO’s underwriting team brings hospitality-focused experience and creative placement options. They are equipped to consider:
- New ventures and start-ups
- Locations with challenging protection classes or coastal exposure
- Seasonal operations and risks with fluctuating revenue patterns
- Accounts with multiple or mixed exposures that other markets may decline
Example fits: a new gastropub opening near the shore with live music and catering; or a tavern in a small town with primary revenue from alcohol sales and an attached owner apartment.
Territories and Availability
This program is offered in Connecticut (CT), Maine (ME), Massachusetts (MA), New Hampshire (NH), New York (NY), Rhode Island (RI), and Vermont (VT). Note that wind coverage is limited for risks located in New York’s five boroughs and Long Island.
Why Work With RISCO Insurance Brokerage Inc.
As a Managing General Agency and E&S lines broker, RISCO brings more than three decades of hospitality underwriting expertise. Their team offers hands-on service, flexible appetite parameters, and access to multiple markets for hard-to-place restaurant, bar, and tavern risks. If you need placement support on complex or coastal hospitality accounts, RISCO can provide responsive underwriting and tailored solutions.
To learn more about the Restaurant, Bar & Tavern Insurance Program, visit www.risco-inc.com or call 800-533-3649.
Acord applications can be emailed to [email protected]