Expansion of MGAguard’s premiere program, RBTguard provides a new solution for the hospitality market, specifically restaurants, bars, and taverns
Image: MGAguard secures funding from Cerberus and TCW. Photo: Courtesy of Capri23auto/Pixabay
MGAguard, through its premiere program, RBTguard, announced today that it will expand its technology-enabled specialty insurance underwriting platform to six states in the Western United States.
Created by industry veterans, MGAguard is funded by Cerberus Capital Management, L.P. and its affiliates (collectively “Cerberus”) and funds managed by TCW Asset Management Company.
RBTguard, the first of a series of specialty programs, 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.
All insurance products are supported by an admitted A+ rated A.M. Best Insurer. Additionally, RBTguard offers proactive loss prevention and curated claims services.
With an existing presence in the Eastern U.S., RBTguard’s products and services will now be available in Washington, Oregon, California, Nevada, Arizona, and Colorado.
David Hampson, MGAguard’s Chief Strategy Officer and former President and CEO of Willis Programs explains, “Given our strong relationships in the East Coast and prominence in the hospitality space, we are confident that our new geographic presence will deliver a cutting-edge solution in experienced underwriting for Restaurants, Bars, and Taverns that the West has not previously had.” Hampson adds, “This is phase one of our national expansion. We will be expanding in the Southeast and in the Midwest within the next 60 days.”
RBTguard’s expansion in the West will be led by veteran underwriter, Sarah Bushek-Hoffman, CIC. Ms. Bushek-Hoffman has 10 years of progressive insurance industry experience with a concentrated focus on underwriting hospitality and recreational businesses. She joins the RBTguard team from the Philadelphia Insurance Companies, where she was a Senior Underwriter.
Mike Rosa, Managing Director of Underwriting comments, “RBTguard is laser-focused on serving the needs of neighborhood pubs, hometown taverns, sports bars, and bar and grills by offering a single-source for a broad range of insurance products.” Mr. Rosa adds, “Through our deep underwriting experience and technology focus, we are able to deliver market leading comprehensive coverages at competitive prices, without compromising reliability and security.”
RBTguard, as part of MGAguard, is a strategic initiative of Cerberus and TCW, which bought R.C.A. Insurance Group’s (RCA) assets through key acquisitions.
Source: Company Press Release