Ragnar Restaurant Insurance Program
Over the last couple of years getting the legally required liquor liability insurance for Restaurants and Bars in South Carolina has become more and more difficult to find. Sky rocking prices have forced some to close their doors for good. While we have found some success when finding affordable coverage for clients via carriers most agencies seem to be missing, this is really only a temporary fix. We need to find a more permanent fix that does not change whenever an insurance company decides to not renew, or changes appetite.
So We Are Starting Our Own Company
Our theory is a simple one. We believe the vast majority of restaurants and bars are fundamentally misidentified for risk factors. There are seemingly arbitrary things that kick restaurants into odd categories. Things like pool tables, games or our favorite the “Sports Bar” classification.
We Need Your Help!
In order to get this all the way through the process and getting to market we need to prove this concept. We need to gather information from approx. 400 restaurants to back test our theory.
What do we need from you? We need to gauge interest and validate our theory to make sure this is a viable solution. We have created this form to help gather that information.
FAQs
Will I make money from this?
Possibly. As a policy holder you are a partial owner of this new company. As owner, you will participate in profits if we take in more premiums than we pay in claims. Every 6 months you will get a full YTD report showing exactly where we stand.
What If I have Multiple Locations?
Please fill out one form for each location. This will help us get the most accurate information possible.
Do I need Loss Runs?
Yes. We will need 5 years of loss runs from your current carrier/agent. If you have not been in business for 5 years, please provide loss runs for all years of operation.
What is the timeline?
Depending on how quickly we can gather this data, it could be a quick as 4 – 6 months before we go live.
Who Get's This Data?
Your data will only be seen by the actuaries running the feasibility study and management at The Ragnar Group Inc. We will not be sharing data with any other third parties.
What will my premiums be?
We go step by step calculating what our projected premiums will be for your restaurant/bar. These are still a work in progress but should be close to what the final number will be. We will update everyone once we have final numbers. You are not locked into anything at any time throughout this process.
I have more questions before I fill out the form
No problem. You can reach us directly by clicking the button below. We will be happy to answer any questions you may have.