CIC, Ragnar Unveil Captive For Restaurants and Bars
When it comes to insurance, not all “sports bars” are created equal — yet many are priced as if they are.
Announced in a recent article published in Insurance Business, CIC Services and Ragnar Group Inc. have partnered to launch a new Utah-domiciled captive insurance company, offering restaurants and bars a fairer alternative to traditional coverage. Instead of lumping diverse establishments into broad, high-risk categories, this program uses more precise underwriting criteria, such as hours of operation, entertainment type, alcohol service, and management practices, to more accurately assess exposure and align similar businesses together.
At the heart of this model is “community underwriting,” a transparent process that invites feedback from existing policyholders when evaluating new applicants. The result is a more informed, cooperative, and fair approach to coverage for owners who have grown frustrated with misclassification and inflated premiums.
“The vast majority of restaurants and bars are fundamentally misidentified when it comes to risk,” said Andrew R. Reina, CEO of Ragnar Group. “By introducing more precise guidelines and community underwriting, this captive offers a fairer, more transparent solution.”
Applications will be reviewed within 30–45 days, and eligibility will be extended to bars, pubs, nightclubs, and fine dining establishments, while excluding high-risk operations, such as cash-only venues and gentlemen’s clubs. As the captive insurance sector continues to evolve, this initiative reflects a growing movement toward specialized, community-driven risk management, helping businesses reclaim control and clarity over how their risks are defined and priced.
Read the full article here to see how CIC Services and Ragnar Group are reshaping insurance for restaurants and bars through precision underwriting and collaboration. If your business is frustrated by misclassified risks and rising premiums, it’s time to explore a smarter, fairer way to manage coverage—built by and for your community.