It’s no secret that liquor liability is a complex coverage. There are numerous variables that underwriters take into consideration when pricing and structuring a policy. For example, on liability policy that is written on the form CG 0001 (sometimes with CG 2150) the host liquor coverage provided will be sufficient as long as insured’s operations are not required a liquor license (for example, when alcohol is served free of charge for a social function). Hence, the more informed you are about the underwriting thought process for liquor liability risks, the better terms and pricing you can obtain, with the help of Paperless Insurance Services, Inc.
There are several variables to the complexity of liquor liability. First, there are 50 states with 50 different sets of laws governing liquor liability, ranging from strict liability (Alabama) to very little liability (Nevada). Second, there is a wide range of venue types – from restaurants to nightclubs to concerts – which all have specific nuances that need to be addressed. Finally, each specific location has its own unique underwriting concerns that will arise, and it is critical to address them fully when submitting a risk to market.Read More »Determine Pricing for Liquor Liability Coverage