Rainbow's Business Owner's Policy (BOP)
Coverage is provided on policies rated A- Excellent by AM Best (IX Financial Size Category).
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Let's delve into the details of a recent insurance policy we and a Rainbow agent crafted for a $3.5M Utah Buffet Restaurant.
Insured Snapshot:
Located in Utah, this Buffet Restaurant is a great example of Casual Dining (Commercial Cooking, Table Service) with 0% Alcohol and of how Rainbow wants to see the nuance in every insured--even if their location has a high crime score or they have a claim. Since the Buffet Restaurant has multiple locations, Rainbow's Underwriting team evaluated each location to make sure it was a fit with the protection Rainbow can offer. For the locations covered by Rainbow, the agent and insured chose Rainbow's Premier Package and added on Cyber Liability.
Why We Won:
The success story behind this insurance policy is a testament to Rainbow's commitment to human-lead, personalized underwriting. Mike Gibbs, Underwriter, took the lead on this risk:
“Agent had 9 locations for his client on a package policy. 3 of the locations were distressed. We worked together to analyze which locations we could take on based on claims history and crime variables. We ultimately wrote 6 out of 9 accounts to win with the agent on this Utah staple. These were the first binds made in the state for Rainbow!”
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 Buffet Restaurant in Utah, our tailored insurance policy serves as a shield, protecting egg and cheeses and hoagie consumers for generations to come 🥪
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