Insuring An Old Historic Building

We recently quoted a licensed tavern situated in a 150-year old historic building. The previous insurer declined to offer renewal terms as they had pulled out of all risks with liquor, and the broker was having difficulty finding a new market. Although we did not wish to take on the liability exposure, we were more than happy to write the property portion of the policy. The age of the building was not a problem for us – we knew it was a good risk, so we were happy to insure the building subject to an updated Replacement Cost estimate.