The privately-owned mutual insurer estimates it has processed almost $90,000 in refunds
In response to the COVID-19 Pandemic, the Hospitality Insurance Group, based in Southborough, announced the following with respect to its liquor liability policyholders:
“We have just completed round one of our COVID-19 refunds for liquor liability policies that expired between March 16, 2020 and May 4, 2020. These policyholders will be receiving a check for the number of days closed on their expiring policy. The endorsements have been processed and checks will be mailed out at the end of this week. This is great news for policyholders that could use a little extra cash at this time.
Overall, we processed almost $90,000 in refunds! Round two of our COVID-19 refund/credits will occur after we learn the reopen dates in each state. At that time, we will process credits for the number of days closed and apply that to the outstanding balance due on the policy. If the policy was paid in full a refund check will go to the insured or finance company. If applying the credit results in an overpayment, we will mail the insured or finance company a refund check.
Continue to watch our FAQ page at www.hmic.com for all the current details and news on our efforts to help policyholders get through these tough times.”
More about The Hospitality Insurance Group
The Hospitality Insurance Group originally was founded as the Liquor Liability Joint Underwriting Association of Massachusetts (LLJUA) in 1985.
The Massachusetts Legislature created LLJUA to guarantee the availability of liquor liability insurance to any licensee or any person lawfully engaged in serving alcoholic beverages. LLJUA succeeded in serving that market, issuing 30,000 policies with total premiums approaching $100,000. Recognizing the greater benefit that could be provided if insurance from LLJUA were available to all businesses in the Commonwealth, the Massachusetts Legislature approved the conversion of LLJUA to Hospitality Mutual Insurance Company in June 2008.
As a private, mutually owned insurance company, Hospitality Mutual has the ability to provide not only liquor liability insurance, but commercial general liability coverage, commercial property insurance and excess liability coverage to businesses in the hospitality industry that are located in Massachusetts.
In 2010, Hospitality Mutual formed Hospitality Insurance Company, which expanded the operations of Hospitality Mutual out of the state of Massachusetts. We now offer commercial property, general liability, liquor liability and excess coverage in the states of Connecticut, New Hampshire, North Carolina, Pennsylvania, Rhode Island and Vermont.
Today, Hospitality Mutual and Hospitality Insurance Company co-operate as Hospitality Insurance Group, providing commercial property, general liability, liquor liability, and excess coverage to businesses in the hospitality industry that serve or sell liquor.
