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Hospitality Insurance Group Bids Farewell to Retiring Board Member Gerald Cassidy

SOUTHBOROUGH, MASS. (May 16, 2019) — A founding member of Hospitality Insurance Group’s Board of Directors has retired. Gerald Cassidy, who brought decades of insurance experience and knowledge to the Board, announced his retirement on May 8, 2019.

Cassidy served as the President and Chief Executive Officer of Hospital Underwriters Mutual Insurance Company (HUM) when he was a founding member of the board in 2008, and he delivered valuable guidance throughout his tenure.

“Hospitality Insurance Group is deeply appreciative of Jerry’s commitment to the Board, and his counsel and opinions on a myriad of insurance issues. A board member with Jerry’s expertise and enthusiasm will be greatly missed,” said Richard E. Welch, Jr., President & CEO of Hospitality Insurance Group.

“I have had the privilege of serving on several boards with Jerry over the last four decades.  He was a gifted insurance professional and a valued personal friend,” said William T. McGrail, HIG Chairman.

Cassidy’s extensive experience in the insurance industry helped guide important decisions that have expanded the operations of Hospitality Insurance Group. Highlights from Cassidy’s time on the Board include voting on the acquisition of Eastern Casualty and prompting the use of their inactive licenses. He was also involved in transitioning Liquor Liability Joint Underwriting Association of Massachusetts, initially created by legislators in Massachusetts, to Hospitality Mutual Insurance Company and Hospitality Insurance Company — which both co-operate as Hospitality Insurance Group.

A seasoned insurance executive with over 50 years of experience, Cassidy served in managerial roles at St. Paul Fire & Marine Insurance Company and the Phoenix of Hartford Insurance Company.

Cassidy has also lent his expertise to other boards and committees throughout his career. His additional appointments include being on HUM’s Board of Directors and its Executive, Finance, and Employee Benefits Committees, as well as serving on the Board of Directors of Child’s Hospital in Albany, N.Y., Chairman of the Hospital Insurance Forum, and Vice Chairman of the Massachusetts Reinsurance Plan.

Cassidy plans to spend his time between Florida and Maine, where he will enjoy spending more time with his grandchildren and playing golf.

About Hospitality Insurance Group

Hospitality Insurance Group (HIG), headquartered in Southborough, Mass., provides commercial property, general liability, liquor liability and excess policies to owners of establishments that serve or sell liquor, including bars, taverns, restaurants, social clubs and liquor stores, as well as caterers and other qualified businesses. HIG writes insurance in seven states that include Connecticut, Massachusetts, New Hampshire, North Carolina, Pennsylvania, Rhode Island and Vermont.

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Meet Our Commercial Lines Territory Manager, Bryon Hutter!

This month, we welcomed Bryon to Hospitality Insurance Group as our new Commercial Lines Territory Manager based at our headquarters in Southborough, Massachusetts.  Get to know Bryon in our latest Q&A interview below.

 

What is your full name?

Bryon Hutter

 

When is your birthday?

02/03

 

Where do you live?

Ashland, MA

 

Tell us a little bit about your background.

I’ve worked in the insurance industry for over 20 years (time flies!) My insurance career began in the mailroom at Liberty Mutual in NJ during college and progressed into various claims and underwriting roles over the years. My most recent experience includes senior field underwriting positions at Nationwide Insurance and Utica National.

 

What brought you to Hospitality Insurance Group?

I’m a foodie at heart and really like socializing over good food and drinks with friends and family. I’ve enjoyed working hospitality accounts over my years as a generalist underwriter and have always wanted to work more of this business. I was intrigued by the opportunity to join HIG and very impressed by the leadership vision for the future. We are going to do great things together!

 

Do you hold any industry certifications?

My CPCU is in progress.

 

Since we’re in the hospitality business, what is your favorite drink of choice to order when out with friends? (cocktail, beer, wine, etc.)

This is an easy question for me! My favorite spirits are Campari and Gin; so it will have to be a Negroni.

 

What is your favorite restaurant in your area?

With the closing of Blue Ginger, Bocado in Wellesley has quickly become a new favorite. Each meal is like an adventure and it doesn’t hurt that they also make a great variation of the Negroni!

 

What do you enjoy doing most in your spare time?

My 2 kids, wife and I enjoy exploring — we’ve been on road trips throughout the East coast and take lots of local weekend “adventures” to museums, beaches, and parks.

If you could go to any Boston sporting event, what would it be? (Boston Bruins, Red Sox, Patriots, Celtics)

Being a long time Penguins fan I always look forward to a Pens Bruins matchup. I have some great memories of Mario Lemieux and Ray Bourque playing on the ice together.

 

Tell us something that makes you unique or something wacky, yet interesting about you?

Besides making animal balloons for my kids and their friends, I really have a passion for cooking; Braised short ribs, chicken piccata and Asparagus wrapped in spinach crepes with béchamel sauce are the real crowd pleasers.

 

How can people reach you?

 

Bryon T. Hutter

New England Territory Manager

Direct: 774.512.9253 | Cell: 508.335.6655

bhutter@hmic.com

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Winterproof Your Workplace

How to winterproof your workplace to avoid slip and fall insurance claims against your business during the winter months.

  • Keep parking lots cleared of snow and ice, including sidewalks; have a snow & ice removal and salting schedule in place.
  • Clear roofs from heavy snow to prevent ice dams and collapses.
  • Ensure that building overhangs, roof edges, and canopies are cleared of snow and ice build-up to prevent potential injuries from falling ice and icicles.
  • Be sure that snow is promptly cleared from the following additional areas: hydrants, stairways,  ramps, entrances, emergency exits, driveways, heating & ventilation equipment.
  • If you are utilizing an outside contractor for snow removal be sure to have a written contract which clearly outlines the contractor’s responsibilities and holds you harmless if someone slips and falls.
  • Make sure heating is provided in uninsulated or vacant spaces.
  • Thermostats should be set at 55 degrees Fahrenheit or higher to prevent freezing pipes.
  • Space heaters should be PROHIBITED due to the risk of fire.

Download a PDF of this list to place at your business here.

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September 2018 Liquor Liability Insurance Policies

Take a look at some of the liquor liability insurance policies Hospitality Insurance Group wrote in September 2018 including the type of coverage included, insurance discounts applied and a glimpse at the total insurance premium.

  • Restaurant
  • Springfield, MA
  • CP $151,000 BPP and $370,000 BI; GL:  1M/2M; LL:  1M/2M
  • $881,334
  • 39%
  • Hired and Non-Owned Auto and AI on GL; GL A&B and PD on LL
    • Alcohol Awareness Training
    • Member of Restaurant Association
    • Elite Discount
  • $9,359 Total; CP: $1,862; GL:  $2,436; LL:  $3,562; EL:  $1,499

 

 

  • Bar
  • Greenville, NC
  • $1M/$1M/$2M
  • $1.1M
  • 84.6%
  • No
    • Alcohol Awareness Training
    • Member of Restaurant Association
  • $13,200 (LL)

 

If you are an Independent Insurance Agent, click here to learn more about working with Hospitality Insurance Group to provide liquor liability insurance to your customers.

If you are a business owner looking for liquor liability insurance coverage, click here to contact one of our preferred Independent Insurance Agents or find answers to some of your frequently asked questions about our insurance coverage here.

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Insuring The Liquor Business

Insuring The Liquor Business

Name: Richard (Dick) Welch

Title: President and CEO, Hospitality Insurance Group

Age: 57

Experience: 30 Years

For the last three decades, Richard Welch has held a variety of roles in the insurance industry in Massachusetts and Connecticut. He spent most of his career at Travelers Insurance where he worked for 25 years, eventually rising to president and CEO of The Premiere Insurance Co. of Massachusetts, a subsidiary of Travelers. After Travelers, Welch spent a few years as an independent consultant before joining Concord Mutual Insurance Co., where he was vice president of corporate planning. Now, the Watertown, Connecticut native is the CEO of the Hospitality Insurance Group, which has offices in Southborough, Massachusetts, and Plantsville, Connecticut. The company, which recently celebrated its 10th anniversary, began strictly as a joint underwriting authority that sold liability insurance to entities that have liquor licenses. It then expanded its model and now sells to a variety of different kinds of insurance in other states.

Q: How did you get into the insurance business?

A: I was working for a company in another industry, which wasn’t doing very well, and I didn’t think the prospects for long-term employment there were great. So, I looked at the insurance industry. When I first interviewed with Travelers, it seemed like a great fit. They made me an offer and I spent a few years in Hartford before they transferred me to Massachusetts to manage the personal lines insurance business in the state. I became president and CEO of Travelers of Massachusetts, leading a $350 million personal lines insurance company, where we enjoyed a great deal of success, returning over $500 million in profits during my tenure.

How I ended up at Hospitality: The company’s president decided to retire last year, and the company was searching for a new CEO. I have a good relationship with a few of the board members at Hospitality, one of whom approached me about the opportunity. I liked what I heard and came on board earlier this year. It’s a great company and we have big plans!

Q: What are the challenges for insuring liquor licenses and insurance?

A: One of the biggest challenges for any business which sells liquor and holds a liquor license is to minimize their exposure and risk. Bars and restaurants encounter significant exposure if they inadvertently over-serve a customer. The potential results of such actions can lead to automobile accidents, injuries or fatalities. It’s essential for bars, restaurants and package stores to carry the appropriate amount of liquor liability insurance. As bars and restaurants are small businesses, few can afford to fund large liabilities, which could run into the hundreds of thousands of dollars for a single incident.

From the insurance company’s viewpoint, the key challenge relates to underwriting and managing claims. What are the annual sales figures? What is the company’s history? Company history is important for us to understand in assessing whether we can write a policy for an individual business.

The other consideration is for us to counsel our clients on how to reduce risk of exposure to loss, so that there are fewer bad situations and if there is one, to be certain that clients don’t do anything to make a bad situation worse. When lawsuits are filed against bars and restaurants, they are often frivolous. We work with our clients to educate them through loss control how to deal with those frivolous lawsuits.

Loss control is beneficial for bars, package stores and restaurants because it keeps our costs down, which allows us to charge our customers less. We are a mutual company, which means we are owned by policyholders. Everything we do is ultimately in their collective interest.

Q: Has the cost of liquor licenses changed?

A: The cost of licenses is regulated by communities and changes from place to place, and there hasn’t been a significant change in the cost for a restaurant or bar to obtain a license to sell alcohol. As far as the cost to obtain liability coverage, that is dependent in large part on the customer’s history – a mixture of frequency of claims and risk factors.

Hospitality Insurance Group is a niche writer within the insurance business. While there are standard insurance companies that will write liquor liability policies for restaurants, the number of agencies who will write similar policies for bars or taverns is much less. It’s a risky line of business unless you really know the specifics of this type of insurance. Our expertise translates into knowing how to assess risk, how to handle insurance claims and how to help keep costs down for the customer.

Q: What is the different between this type of insurance in Connecticut versus Massachusetts?

A: The potential liability of establishments that serve liquor is defined by something called “Dram Shop Laws.” Connecticut’s Dram Shop Law is somewhat unique in that it limits the liability to $250,000 for any single incident except in a case of the reckless service of alcohol. This limit helps keep insurance more affordable for Connecticut bars and restaurants.

Welch’s Five Favorite Writers:

  1. Jon Krakauer
  2. Michael Lewis
  3. Charles Mann
  4. Nassim Nicholas Taleb
  5. Levitt & Dubner
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August 2018 Liquor Liability Insurance Policies

Take a look at some of the liquor liability insurance policies Hospitality Insurance Group wrote in August 2018 including the type of coverage included, insurance discounts applied and a glimpse at the total insurance premium.

  • Restaurant
  • Cumberland RI
  • 250,000 per person /$500,000 Per Occ/$500,000 Agg
  • $250,000
  • 40%
  • Optional GL A&B
    • Alcohol Awareness Training
  • $1,199.00

 

  • Type of Establishment: Restaurant
  • Orwigsburg, PA
  • 1,000,000/1,000,000/2,000,000
  • 254,138
  • 41%
  • GL A&B
    • Alcohol Awareness Training
    • Elite Discount
  • $6,458

 

  • Bar
  • Charlotte, North Carolina
  • $1M/$2M
  • $1,901,233
  • 100%
  • GL A&B, Property Damage
    • Alcohol Awareness Training
    • Member of Restaurant Association
  • GL – $26,899  LL- $60,583

 

If you are an Independent Insurance Agent, click here to learn more about working with Hospitality Insurance Group to provide liquor liability insurance to your customers.

If you are a business owner looking for liquor liability insurance coverage, click here to contact one of our preferred Independent Insurance Agents or find answers to some of your frequently asked questions about our insurance coverage here.

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Meet Our Administrative Assistant, Christine!

In August, we welcomed Christine to Hospitality Insurance Group as an Administrative Assistant at our headquarters in Southborough, Massachusetts.  Get to know Christine in our latest Q&A interview below.

What is your full name?

Christine

 

Where do you live?

Sutton MA.

 

Tell us a little bit about your background.

Retired from the Massachusetts Department of Correction after 32 years of service. Began my career as a Correction Officer at the women’s facility in MCI Framingham and transferred to North Central Correctional Institution in Gardner MA. which is a male facility. During my tenure with the DOC I held numerous positions to include investigator and ascended to the rank of Superintendent.

Since we’re in the hospitality business, what is your favorite drink of choice to order when out with friends? (cocktail, beer, wine, etc.)

DiSaronno on the rocks.

 

What is your favorite restaurant in your area?

Mare Y Monte in Worcester

 

What do you enjoy doing most in your spare time?

Golf and anything outdoors, Working out at the gym.

 

If you could go to any Boston sporting event, what would it be? (Boston Bruins, Red Sox, Patriots, Celtics)

Patriots

 

Tell us something that makes you unique or something wacky, yet interesting about you? I enjoy riding a motorcycle.

 

How can people contact you? 

Christine Verdini
Administrative Assistant
Hospitality Insurance Group
Office: 774-512-9258
Cverdini@hmic.com

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Excess Liability – Expanded Guidelines and Reduced Pricing

Excess Liability – Expanded Guidelines and Reduced Pricing

Hospitality Insurance Group’s new expanded guidelines and reduced pricing for independent insurance agents who write an excess liability policy are effective immediately!

When writing an excess liability policy with us in the past we required that the Liquor Liability and General Liability coverages be written with us. Our new expanded guidelines allow you to also write an Excess Liability policy with us when we write the Liquor Liability and the General Liability is written as part of a BOP with an A. M. Best A rated or better carrier. This should provide you with additional opportunities to write Excess Liability policies with us.

We have also REDUCED minimum premiums on our excess policies. The $1MM Excess minimum premium has been reduced to $750 from $1,000 and $2MM minimum premiums have been reduced to $500 from $750.

Thank you for your business and continued support.

Be sure to sign up for our email list here to be notified of more changes and new products as we continue to expand our offerings to earn more of your business.

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July 2018 Liquor Liability Insurance Policies

Take a look at some of the liquor liability insurance policies Hospitality Insurance Group wrote in July 2018 including the type of coverage included, insurance discounts applied and a glimpse at the total insurance premium.

 

  • Tavern
  • Bethlehem, PA
  • 1,000,000/1,000,000/2,000,000
  • $527,000
  • 62% Liquor
  • GL A&B
    • Alcohol Awareness Training
    • Member of Restaurant Association
  • $14,074

 

  • Social Club
  • New Haven, CT
  • 500,000 Per Person /$1,000,000 Per Occ/$1,000,000 Agg Limit
  • $120,000
  • 41%
  • Optional A&B
    • Alcohol Awareness Training
  • $919.00

 

 

  • Restaurant
  • Bedford, NH
  • 1M/1M/2M
  • 3,500,000
  • 21
  • None
    • Alcohol Awareness Training
    • Member of Restaurant Association
  • $5,922

 

 

If you are an Independent Insurance Agent, click here to learn more about working with Hospitality Insurance Group to provide liquor liability insurance to your customers.

If you are a business owner looking for liquor liability insurance coverage, click here to contact one of our preferred Independent Insurance Agents or find answers to some of your frequently asked questions about our insurance coverage here.

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