The new endorsement will give restaurants the advantage of covering the profit portion of their wine collection which can be significant, especially for higher‐end establishments.
“Our goal is to continually improve our specialty insurance products for restaurants to better meet our clients’ needs,” said Heidi Strommen, President of ProHost USA. “The Wine Valuation Endorsement will give restaurants with more extensive wine collections added protection in the event of direct physical loss or damage.”
The coverage will be added to ProHost USA’s restaurant package policy at no additional premium as states approve the filing. ProHost USA’s insurance programs are not available through any other source and are written on “A” rated, admitted paper. Submissions are accepted from independent retail agents across the country. Eligible risks range from fast casual to fine dining restaurants as well as wine bars and off‐premises caterers. More information about ProHost USA is available on its website: www.prohostusa.com.
About ProHost USA
ProHost USA is program administrator located in Minneapolis, Minnesota. Since 1989, ProHost USA has delivered unique underwriting expertise and best‐in‐class service to the restaurant insurance marketplace. The company is a charter member of Target Markets Program Administrators Association.