Let's delve into the details of a recent insurance policy we and a Rainbow agent crafted for a Michigan Ramen Restaurant.
Insured Snapshot:
Nestled in Michigan, this Ramen Restaurant is a great example of casual dining, coupled with a modest 8% of alcohol sales and a closing time of 10pm. The insurance policy secured for this establishment boasts approved $2/4M GL limits, aligned with landlord requirements. Since the Ramen Restaurant is a tenant, the policy omits building coverage, but covers the $300K TIV (Total Insured Value), fortified with a 1% wind/hail deductible – a prudent measure in the face of unpredictable weather patterns.
Why We Won:
The success story behind this insurance policy is a testament to strategic collaboration and meticulous attention to detail. Mike Gibbs, the underwriter involved in the process, sheds light on the winning formula:
“[This risk] fit our appetite perfectly, as the agent submitted updated and clear information via our platform. Fire/burglar questions were included to give us an efficient submission process without additional outreach needed.”
In essence, it epitomizes efficiency without compromising on efficacy – something Rainbow aspires to deliver with each submission.
In a dynamic landscape where risk lurks around every corner, securing adequate insurance coverage isn't merely a formality but a strategic imperative. For this Ramen Restaurant in Michigan, our tailored insurance policy serves as a robust shield against unforeseen adversities, safeguarding its prosperity and allowing delicious ramen to fill many bowls to come. With a keen eye for sensible underwriting, proactive collaboration with independent agents, and a commitment to client-centricity, we are excited to keep charting new horizons in the ever-evolving landscape of restaurant insurance.
Rainbow helps agents grow with stable capacity and support—even in tough markets.
Rainbow has launched its Business Owner's Policy (BOP) and Excess (XS) for IA restaurants
