ProHost USA, a national program administrator specializing in restaurant insurance, is rolling out a property insurance coverage valuing bottled wine at its selling price rather than at replacement cost. 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.
According to 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.
ProHost USA is program administrator located in Minneapolis focused on the restaurant insurance marketplace.
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