ICC Holdings is a specialty property and casualty insurer focused exclusively on the food and beverage industry. Its operating subsidiary, Illinois Casualty Company, has served this niche since 1950. ICC's core products are liquor liability (dram shop) insurance, commercial multi-peril (BOP) policies, and complementary workers' compensation and commercial umbrella coverage — all targeted at restaurants, bars, and taverns. As of end of 2023, ICC had roughly 7,100 liquor liability policies and 5,900 BOP policies across 13 active states, with about 90% of policies covering restaurants or taverns. Illinois represents roughly 23% of direct premiums written. ICC sells through a network of approximately 184 independent agents, with the top 10 agents accounting for about 42% of direct premiums written. Like any P&C insurer, ICC collects premiums upfront, pays claims later, and invests the float in a fixed income-heavy portfolio in the interim. ICC differentiates through deep niche expertise, a proprietary pricing algorithm built around food-and-beverage-specific risk factors, and an in-house legal team that aggressively defends liability claims. ICC also holds exclusive endorsements from several state-licensed beverage and tavern associations. Beyond core underwriting, ICC is growing through geographic expansion into underutilized licensed states, MGA and wholesale operations (including its 2023 acquisition of Guild Insurance), and ancillary businesses including food safety education and participation in Lloyd's syndicates.