Rainbow Launches Restaurant Insurance Program in California Amidst Market Distress

Admitted Business Owner's Policy Program Now Available to Independent Agents in the Golden State

SAN FRANCISCO, Feb. 28, 2024 /PRNewswire/ -- Rainbow, a digitally-enabled managing general underwriter building tailored small business insurance products, has announced launching its admitted restaurant insurance program in the state of California.

Rainbow's entrance into one of the largest insurance markets in the world comes at a time when many incumbent carriers have significantly pulled back their offerings in California, or exited the market entirely. Insurance agents will benefit from Rainbow's bespoke restaurant program and leading customer service, which will stand out in a market starved of available capacity.

"We hear from agents every day that they love our comprehensive offering: our customizable business insurance that comes with personalized customer service, experienced and responsive underwriting, and our best-in-class digital experience," said Bobby Touran, Co-founder and CEO of Rainbow. "We've developed so many meaningful partnerships with agencies across the country, and we look forward to doing that throughout the state. Our entire organization is thrilled to be officially open for business in our home state of California."

Rainbow serves up a broad appetite in the foodservice class, with customizable key restaurant-specific coverages available. The result is a comprehensive program fit for small coffee shops or complex fine dining establishments, and everything in between. When quoting through Rainbow's online platform, agents will find competitive premium credits for insureds with affinity memberships and demonstrated risk management practices, as well as industry leading underwriting response times and customer service.

With California, Rainbow is now live in 15 states across the country with its Business Owner's Policy. The company also recently added Excess Liability to its product suite in select states. Agents can visit userainbow.com/restaurant-insurance-agents or email appointments@userainbow.com to learn more about Rainbow's insurance products and obtain a copy of our appetite guide, or to apply to become an appointed producer. Rainbow's full state availability can be seen by visiting userainbow.com/availability.

About Rainbow

Founded in 2022, Rainbow is a specialist managing general underwriter building tailored small business insurance programs, starting with restaurants. Through developing insurance products that reward small business owners for putting safety first, and evolve with their business' ups and downs, Rainbow is pioneering the insurance policy that provides peace of mind while also working to help prevent claims. Rainbow offers its agent and broker partners a seamless, instant quote-to-bind experience, and digital partners are able to integrate with Rainbow's powerful yet easy to use API to offer instant quoting to their customers. For more information on Rainbow, please visit www.userainbow.com.

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SOURCE Rainbow MGA Insurance Agency, Inc.