Personal and Advertising Injury Liability

Tom WallaceLiability Insurance, Risk Management

social media logos

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

Tom WallaceContracts, Liability Insurance, Risk Management

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

Tom WallaceCertificates of Insurance, Contracts, General, Import, Liability Insurance, Product Recall

certificate 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

Tom WallaceCommercial Coverage, Property Insurance

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

Tom WallaceCommercial Coverage, General, Workers Compensation

workers compensation

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

Tom WallaceGeneral, Liability Insurance, Product Liability, Product Recall, Property Insurance

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

Tom WallaceCommercial Coverage, Liability Insurance, Product Liability, Property Insurance

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

Tom WallaceCargo, Property Insurance

Cargo Insurance

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

Tom WallaceProperty Insurance, Risk Management

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

Additional Insured Vendors

Tom WallaceContracts, Liability Insurance

Distributor and retail relationships change all the time. Adding distribution partners to your insurance is common practice. Additional Insured-Vendors is the technical terminology. When ending a vendor relationship, beware of clauses that impact your insurance. After terminating a vendor agreement, does that mean the additional insured status no longer applies? If the distributor/retailer  no longer sells your product and you … Read More