Commercial: Seafood Restaurant VS Italian Restaurant

[lyonsnation]

Just wrote a commercial policy for a clients seafood restaurant. Her landlord said, days before closing that she didn't want a seafood restaurant in her building. Our client decided to change to Italian.

We called underwriting who said the premium would increase by $1300 for the year because Italian restaurants were a higher risk.

Has anyone else heard of something like this? You'd think that it would be the seafood restaurant that posed the biggest threat.

Any input is greatly appreciated!

 

[STIBROKER]

Just wrote a commercial policy for a clients seafood restaurant. Her landlord said, days before closing that she didn't want a seafood restaurant in her building. Our client decided to change to Italian.

We called underwriting who said the premium would increase by $1300 for the year because Italian restaurants were a higher risk.

Has anyone else heard of something like this? You'd think that it would be the seafood restaurant that posed the biggest threat.

Any input is greatly appreciated!

go with seafood Italian.....see what they come back with.....

 

[lyonsnation]

Unfortunately Seafood Italian isn't an option that we can use :(

 

[AZDave]

Never heard that one before.

Maybe its with the clientele.

Is this risk in Jersey?

 

[ABAInsurance]

Never heard that one before. Maybe its with the clientele. Is this risk in Jersey?

Im in NJ, whats wrong with Jersey?

 

[AZDave]

Nothing personal. Just my weak attempt with a wise guy joke.

 

[hesse]

what portion is increasing the building rates or the liability rates?


they either feel the cooking is a significantly higher risk. My guess would be they don't write much for seafood restaurants so their loss experience with that class code is lower

 

[stuy119]

Maybe they feel that more pots of boiling water is a greater risk in some way.