PARSIPPANY, N.J., Feb. 22, 2017 /PRNewswire/ -- Innovative Coverage Concepts (ICC) is pleased to announce it has launched a new program for fine dining and upscale casual establishments. ICC's carrier partner for the program is Chubb, whose superior financial strength rating of A++ is the highest awarded by A.M. Best.
"We're pleased to partner with Chubb, whose name is synonymous with financial strength and stability in the insurance industry," said Dean Carras, President of ICC. "Partnering with Chubb also enables us to expand capacity and improve the limits, terms and conditions that make our program's coverage significantly more attractive to commercial insurance brokers."
Highlights of the program's expanded capacity include:
- Liquor liability aggregate increased to $2,000,000
- Broader wind and coastal capacity
- Competitive pricing
- Quick turnaround on quotes
New coverages on an already comprehensive property enhancement include:
- Funds Transfer Fraud added to the Computer Fraud coverage
- Leasehold Interest Improvements & Betterments added
- Catering Contract Penalty Clause added
- Tips included as Business Income added
- Wine Selling Price endorsement added to cover wine collections at selling price
Innovative Coverage Concepts, LLC (ICC) is a premier, national Managing General Agency (MGA) focused exclusively on developing and delivering specialized insurance programs for the hospitality industry and restaurants of all types, including fine dining, casual dining, bars, taverns and night clubs. ICC is distinguished by its custom risk management solutions and innovative processes and technologies developed to assist clients in reducing risk, controlling claims costs, and streamlining business processes.
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at www.chubb.com.
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SOURCE Innovative Coverage Concepts