Workers Compensation Basics Back a few years ago (2017) I created a blog post featuring the basics of Workers Compensation Insurance. Since then we have more clients hiring employees and therefore more questions about Workers Compensation Insurance Workers Compensation – Where to Start First off, identify your states workers compensation requirements. Hiring anyone, for any period of time, can trigger … Read More
Personal and Advertising Injury Liability
Personal and Advertising Injury coverage is contained within most General Liability insurance contracts. The main question I receive usually is about the advertising component of coverage. The typical General Liability limit format looks something like: Occurrence Limit $1,000,000 Personal & Advertising Limit $1,000,000 General Aggregate Limit $2,000,000 Products & Completed Operations Aggregate $2,000,000 Definitions: Personal and Advertising Injury Liability Personal … Read More
Worldwide Liability
Crossing Borders Goods cross many borders. Even small brands can find themselves on shelves in different parts of the world and need worldwide liability protection. Brands from foreign nations look to enter and stay in the US Market all the time. The common theme, expansion of markets to sell more product but is your insurance keeping up with your expansion? … Read More
Certificates of Insurance
Certificates of Insurance: Geek Stuff Specialty food and beverage manufacturers, importers and distributors are well aware of the need for the all important “COI”. A company called Acord produces The Certificate of Liability Insurance (technical name) as a standardized form used by the insurance industry. If you really want to geek out the form is the Acord 25 which you … Read More
Property Insurance
Moving Parts of Property Insurance In our experience, General Liability insurance gets more attention than property insurance especially from smaller companies and startups. Protection from legal action and meeting qualifications of retailers and distributors is often on the top of the list for specialty food and beverage manufactures and importers. Producers often purchase their own General Liability coverage but often … Read More
Workers Compensation Location
Location Matters Most states require Workers Compensation to cover injuries to employees while working. One location entities with no remote workers don’t have much to think about in regards to location. The primary driver of coverage is the “3.A” state listed on the declarations page. Insurers like to know the actual location addresses but the main driver of coverage is … Read More
Insurance Deductibles
Types of Insurance Deductibles Insurance deductibles all serve one function, the insured shares in a portion of a covered loss. Deductibles help weed out small claims and force an insured to have some “skin in the game”. Most insurance buyers think of deductibles in property insurance. We are all used to having a deducible for home or car insurance. A … Read More
Buying US Insurance
Starts with a US entity We often get requests from companies domiciled in other countries about buying US insurance. Typically it involves purchasing General Liability insurance required by retailers and distributors here in the US. Insurance companies in the United States typically require the insured on the policy be a US entity in order to buy US insurance. Ownership by … Read More
Cargo Claims
Freight Losses: Be Prepared All of our clients have cargo and property stored somewhere. Few own their own transport vehicles so common and contract carrier use is high. Therefore, cargo insurance is not a common and cargo claims must be filed against shippers. Certainly it is easy to let your shipping company worry about insuring your goods. However, be prepared … Read More
Dependent Property Insurance
Who do you depend on? Production of a food or beverage product is labor intensive. It takes time regardless of who is manufacturing the product. Production modes vary by company. Maybe you own your facility and equipment. Renting commercial kitchens has long been popular. Many cities now have incubator kitchens that offer many services beyond just equipment and storage. However, … Read More