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

Liability Insurance and Contracts

Daniel FooteCommercial Coverage, Contracts, Liability Insurance

The last two posts were general explanations of liability insurance. Liability insurance is often required when entering into a contract with a retailer, wholesaler or distributor. Typically the entity with the most clout will require a contract to be signed. The larger and more sophisticated your client the more sophisticated the contract may be. Larger organizations may have a contract management or … Read More

Contingent Business Income

Daniel FooteBusiness Income Insurance, Commercial Coverage

Let’s pose a what if situation that is very real in the specialty food and beverage business. Your great idea for a food or beverage product gets some traction but you have no desire or capital to begin a manufacturing business. What do you do? You find someone else to make your product to your specifications. Perhaps you even find … Read More