Rainbow expands restaurant insurance program to New York

By Ashish Tiwari

July 11 - (The Insurer) – Small business insurance platform Rainbow launched its business owner’s policy (BOP) for restaurants in New York on Thursday, its most ambitious rollout of the program to date.

New York is the third-largest restaurant market in the U.S., with more than 20,000 restaurants in New York City making it a major opportunity for insurers.

Rainbow said the new BOP coverage is tailored to urban risks such as liquor liability, late-night operations, cyber threats and third-party delivery services. Traditional carriers have been cautious in these areas.

“New York is a vibrant and diverse market. We’re already seeing fantastic early traffic,” said Bobby Touran, CEO of Rainbow.

The expansion brings Rainbow’s restaurant BOP footprint to 30 states, with Maryland and Washington set to follow.

The restaurant BOP program combines general liability, property, business interruption, cyber, liquor liability and employment practices liability into a single policy, distributed through Rainbow’s digital platform.

A BOP covers various risks, including property damage, injuries to patrons and advertising-related claims.

Backed by reinsurance partners, Rainbow emphasised “thoughtful growth and agent-first service”, targeting underserved sectors with admitted products that meet evolving risks.

The company launched its beauty and wellness insurance segment in Texas and Illinois last month, as part of its ongoing push to offer industry-specific coverage nationwide. The program is now live in 11 states, with more expected to launch in the coming months.