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 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.
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