Programs
FINANCIAL INSTITUTIONS PROGRAM
ARA Risk Management, Inc recognizes the particular risk exposure and management criteria of financial institutions. Our professionals dedicate themselves to asset protection by designing unique insurance programs. We can help with risk management solutions for a wide range of financial institutions, including:
Commercial Banks
Community Banks
Credit Unions
Mortgage bankers and brokers
Real Estate Investment Trusts
Wall Street, a secondary market and warehouse investors
PRODUCTS
ARA Risk can provide you with tools for your business to operate efficiently and effectively with products and services such as:
Excess SIPC
Mortgage Bankers Bond
Mortgage Impairment
Mortgagee’s errors and omissions
Professional liability, Directors’ and Officers’ Liability, and Employment Practices Liability
Lender placed and real estate owned
Food Compliance
Internet Banking Liability
Securities Liability
SERVICES
ARA Risk Management, Inc uses the services of a panel of underwriters with a wide range of capabilities to ensure that you receive the most competitive quotes:
Provide access to top-quality insurance carriers
Reduce overall risk management costs
Access to substantial capacity to protect corporate assets for insurable losses
Provide a high level of customer service
Establish a cost-effective and efficient means of processing information and claims
Design innovative approaches to risk challenges
For more information contact us at submissions@arariskinc.com
HOTELS PROGRAM
Our hotel programs' design provides hotel/motel owners with a stable source of insurance protection by providing comprehensive coverage quotes at competitive prices backed by A.M. rated carriers. Best and Standard & Poor's.
ARA Risk Management, Inc Hotel Program provides comprehensive coverage and risk management services to help hotel owners minimize and prevent loss exposure.
FEATURES
Property coverage with no coinsurance on property or business income.
Included coverage: personal property of others, building glass, lost key coverage.
Building ordinance, guest evacuation and relocation charges.
General liability written on a per-location aggregate and coverage is available as a package or individually.
Available GL coverages: liquor liability, employee benefits liability, hired and non-owned auto coverage’s, umbrella coverage, equipment break down and crime coverage.
A wide range of hotel/motel risks will be entertained.
For more information contact us at submissions@arariskinc.com
RESTAURANT PROGRAM
Ensuring your restaurant program can be a very complicated task. Responding to restaurant insurance needs requires a high level of knowledge, experience, and selection of carriers, known for their ability to meet restaurant owners' requirements at the rates they can afford. ARA Risk Management, Inc programs provide restaurants with the best choice — in companies available to meet their insurance needs, with comprehensive coverage of significant savings.
Our programs cover many types of insurance coverage to meet your needs. We also offer a full range of specialty coverage.
General Liability
Liquor Liability
Business Property
Catering Operations
Commercial Umbrella
Business Interruption
Workers' Compensation
Equipment Breakdown
For more information contact us at submissions@arariskinc.com
BAR AND TAVERN PROGRAM
Designed for bars & taverns with liquor receipts of 50% or more than the total gross receipts, our Bar & Tavern, and Restaurant product can be quickly and easily quoted for five lines of insurance: General Liability, Property, Liquor Liability, Umbrella, Crime, and Glass.
PRODUCT FEATURES
Commercial Property, Commercial General Liability, Liquor Liability and Crime can be written on one policy.
Risks with dancing and entertainment are eligible
OPTIONAL COVERAGE
Money and securities coverage
Equipment Breakdown - includes food spoilage up to $25,000
Glass
Signs
Employee Dishonesty
Hired and Non-Owned Auto
For more information contact us at submissions@arariskinc.com
MARINE INSURANCE PROGRAM
Before 9/11, ARA Risk had offices in downtown Manhattan’s heart just two blocks away from the South Street Seaport, reflecting our corporate beginnings. And while we have expanded over the years to provide a full line of commercial insurance products, we still have strong ties with the Ocean Marine underwriting community. We speak the language of the Ocean Marine insurance industry. We know that coverage needs careful tailoring to meet the needs of different risks. So if you need this kind of insurance, please contact one of our specialists for a quick, courteous assessment of your specific needs.
The following ocean marine forms are those that are available. Manuscript policies to cover unusual situations or unique risks are also possible.
Ocean Marine Insurance is divided into three parts:
Ocean Marine Hull Coverage: This provides coverage of physical damage to the vessel and to the property that is part of the ship. Besides ocean-going vessels, Hull coverage is written on many commercial vessels operating in rivers, ports, and other inland waterways. These vessels include tugs, lighters, various types of work vessels used to load or unload ships, river towboats, barges, and different floating equipment classes used in and around coastal or inland ports. Offshore oil rigs and similar types of fixed marine assets are also eligible for hull insurance.
Ocean Marine Cargo Coverage: This provides coverage of the physical damage to the cargo on the vessel. All goods transported by water during any part of their shipment may be insured under an ocean freight policy-even if the load is on dry land. The most common cargo policy is the Open Cargo policy, which covers all shipments made by the insured continuously until canceled by the insurance company or the insured.
Ocean Marine Liability Coverage: This is called P&I or Protection and Indemnity coverage. It covers bodily injury and property damage to the public and the master and crew. This coverage also applies to the legal liability for the cargo being carried by others. Pollution exclusion clauses may be attached to the basic policy, depending on the P&I Society writing the coverage and their analysis of the loss potential.
If you are looking for a fresh approach to your ocean marine insurance requirements, contact us at submissions@arariskinc.com
FOOD AND BEVERAGE PROGRAM
Our expertise in the insurance requirements of the food and beverage industry grew out of OUR Corporate beginnings. Our programs are with A. M. Best Rated carriers that provide fresh insights and offer bold alternatives to traditional insurance mechanisms. If you have a loss, the couriers we represent have the international network of adjusters needed to expedite the settlement of losses that occur anywhere in the world.
If you or your client(s) are in the food & beverage industry, we are the one source for all the coverages you need:
Worldwide Property
Workers' Compensation
Commercial Liability
Umbrella Liability
Ocean Marine
Inland Marine
Bonds
Medical Insurance
Long Term Disability
ARA Risk offers both traditional and non-traditional approaches to risk financing. We work closely with your broker to:
Evaluate your limits of insurance, both property and liability
Evaluate your exposures to loss; these exposures can include such things as
Your property located at other locations (bottlers, distributors, and warehouses), recall expenses, weather-related losses, and spoilage. We make sure that these exposures are addressed, either through insurance, or through an informed self-insured program, or through a combination of the two
Evaluate your loss control practices
Ensure that you know the proper procedures in the event of a loss.
For more information contact us at submissions@arariskinc.com
REAL ESTATE PROGRAM
ARA Risk Management, Inc. is pleased to advise a Program Facility that can provide up to $100 million per location aggregate through an A-Rated carrier facility. The program has comprehensive property and casualty coverages. It has proven to be of significant benefit to international and domestic Real Estate owners and developers.
ARA Risk’s experienced staff is equipped to answer detailed real estate questions and always available to discuss specific insurance needs.
The program facility can provide international and domestic coverage for:
⦁ Office Buildings – High Rise and Suburban Complexes
⦁ Warehousing and Flex Space Buildings
⦁ High Rise Apartment Buildings and Garden Complexes
⦁ Condominiums- High Rise and Garden Complexes
⦁ Retail Complexes- Strip Centers and Major Shopping Malls
including those integrated within “other” occupancies.
⦁ Hotel and Motel occupancies
