SADDLE BROOK, N.J., April 15, 2020 (GLOBE NEWSWIRE) -- RBTguard, a program of MGAguard LLC, a wholly owned subsidiary of Guardia LLC, announced today that it will offer new coverages and policy changes to help restaurants, bars, and taverns maintain their insurance during the COVID-19 pandemic.
RBTguard is a specialty insurance program that focuses on the needs of the hospitality industry, specifically restaurants, bars, and taverns. It offers admitted insurance products, including property, business interruption, liquor liability, general liability, cyber liability, and employment practices liability.
Effective immediately, RBTguard will provide the following options:
- Hired/non-owned auto coverage for those doing delivery
- Property only options available
- Vacant building only policy available
In addition, RBTguard has made arrangements to be able to take credit card payments and expect it to be available before the end of the month.
Mike Rosa, Managing Director of Underwriting explained, “The hospitality industry is being severely impacted by the COVID-19 pandemic, with many businesses forced to drastically alter or halt operations.” He added, “In an effort to support our partners, we have pursued various ways to offer flexible options for restaurants, bars, and taverns to maintain their insurance.”
David Hampson, Chief Strategy Officer said, “In our more than 39 years of providing insurance to the industry, we have weathered many storms. Our commitment to our employees, our customers, and our partners will not waiver.” He added, “RBTguard’s new offerings will help ease the burden of operating and ensure that restaurants, bars, and taverns remain protected during such unprecedented times.”
All insurance products are supported by an admitted A+ rated A.M. Best Insurer. Additionally, RBTguard offers proactive loss prevention and curated claims services.
RBTguard, as part of MGAguard, is a strategic initiative of Cerberus Capital Management, L,P. and TCW Asset Management Company, which bought R.C.A. Insurance Group’s (RCA) assets through key acquisitions.
Headquartered in Fort Lauderdale, Florida, MGAguard offers a new, innovative approach to specialty insurance underwriting. The company’s ethos, “Where Insurance Expertise Meets Technology Innovation,” focuses on delivering an exceptional customer experience. Funded by affiliates of Cerberus Capital Management, L.P. and TCW Asset Management Company, MGAguard leverages 150-plus years of insurance industry expertise, offering a broad range of admitted products, including property, business interruption, liquor liability, general liability, cyber liability, and employment practices liability. All insurance products are supported by an admitted A+ rated A.M. Best insurer. Additionally, MGAguard offers proactive loss prevention and curated claims services. MGAguard’s RBTguard is the first of several programs and focuses on the specific needs of the hospitality market, including restaurants, bars, and taverns. For more information, visit www.mgaguard.com.
About Guardia LLC
Headquartered in Fort Lauderdale, Florida, Guardia LLC is a holdings company which owns and operates MGAguard, InsurePay, MidAtlantic Insurance Group LLC, CWIBenefits LLC and Decision UR LLC. Guardia LLC is funded by affiliates of Cerberus Capital Management, L.P. and TCW Asset Management Company, For more information, visit www.guardiallc.com.
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