Homeowners Insurance to cover Business Property, Read On?

Daniel FooteHomeowners Insurance, Property Insurance

It is without fail that small business (and sometimes medium size as well) owners store business property at their homes. Homeowners insurance can provide some coverage but not much. Homeowners insurance coverage disputes can end up in court when it comes to covering business property. Case law exists but with mixed results for the policyholder.  Using a residence to store … Read More

Non-Owned Autos in Your Food & Beverage Business

Daniel FooteAuto Insurance, Liability Insurance, Risk Management

  Use of a non-owned autos in food and beverage businesses is common. Most of the time these vehicles are owned by employees or owners of the business itself because it makes sense. The cost to purchase, maintain and insure commercial vehicles is expensive. In addition to cost, the use of vehicles is secondary to most business models. Consequently, non-owned … Read More

Product Liability Insurance and Exported Products

Daniel FooteExport, Import, Liability Insurance, Product Liability, Risk Management

Product Export The world is getting smaller and smaller. Product export by food and beverage companies is common. Local, state and federal agencies are helping expand borders. If you export products now or are thinking about it be aware of how insurance responds. Below are some essential policy terms to keep in mind. Policy Territory Insurance policies have coverage territories. … Read More

Certificate of Insurance

Daniel FooteContracts, Liability Insurance

What is a Certificate of Liability Insurance (COI) Obtaining a certificate of liability insurance is often a routine administrative transaction. Because this piece of paper is important a quick turnaround time and accuracy matter. As a result of the administrative nature of these requests there is a real lack of understanding of what impacts a certificate of insurance. A certificate … Read More

Insuring Property for New Companies

Daniel FooteCommercial Coverage, Property Insurance

The Problem When a new specialty food or specialty beverage entrepreneur calls about insurance the conversation is usually about liability insurance because a certificate of liability insurance is the priority. Seems like insuring inventory and other property is not a consideration. Budget is a concern for sure. Amount to insure is a factor. Location of the property may be problematic. … Read More

Product Liability or General Liability?

Daniel FooteLiability Insurance, Product Liability

   Product Liability Insurance Basics Product liability insurance is a must have for specialty food and beverage businesses. A popular question we get is, what is the difference between product liability and general liability? Unfortunately an adequate answer means learning some insurance terminology. Liability policies breakdown in to these categories: General Liability General Liability policy that includes an endorsement for … Read More

Workers Compensation

Daniel FooteLaws and Taxes, Risk Management

, Workers Compensation for Employees-General Most states require coverage for employees who become sick or are injured on the job. Workers compensation insurance and state workers compensation law work together to provide benefits to employees.  The purpose of this post is not to give a policy overview. For those of you with larger organizations you know the drill. It can … Read More

Cost of Liability Insurance

Daniel FooteLiability Insurance, Product Liability

  Cost of Liability Insurance How much does liability insurance cost? A common question asked by food and beverage companies. The factors below determine premium. Product Type Product type is a key element. The “higher” the risk, the higher the premium. Higher risk products include products directly imported into the US. An insurance company, insuring an importer, bears more risk … Read More

Food, Drink, Law and Taxes

Daniel FooteGeneral, Laws and Taxes

  In the last few weeks I have either had conversations or read about items in various trade press about the relationship of food, drink, law and taxes. As a result, I thought it would make for a good blog post. Therefore the insurance angle will be minimal. Food Safety & Modernization Act The FDA Food Safety and Modernization Act … Read More

Contract Review

Daniel FooteContracts, Product Recall, Property Insurance, Risk Management

    Contract-A Good Read Contracts, lovely reading are they not? Not always easy to get through but if you are food and beverage manufacturer using a co-packer, distributor, or direct to retail , here are some things you want to keep in mind when reviewing for insurance purposes. Types of Liability Insurance A key contract item is insurance. This … Read More