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 designated … Read More
Workers Compensation: Know your Basics
Do you know how to read your Workers Compensation declarations page?
Cost of Liability Insurance
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 because … Read More
Food, Drink, Law 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
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 will usually … Read More
Liability Insurance Limits
Why you should know how the liability insurance limits work? The more product you sell the greater the chances of having to deal with contracts. Most, if not all, contracts you will encounter have provisions for insurance coverage. These provisions will stipulate the type of coverage, insurance limits, additional insured status, and perhaps a waiver of subrogation. This post will explain the … Read More
Liability Insurance and Contracts
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
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
New Craft Brew on the Way!
If you’re a brewer or a lover of craft brews in general check out Jeff Alworth’s article in the October/September issue of Draft magazine for some very upbeat news(http://draftmag.com/features/2011-new-brewery-report/) . Using information obtained by the Brewers Association he reported that over 600 breweries are in the works over the next year or two. Wow! This builds on the existing 1,753 … Read More
Describing Quality Is the Name of the Game in Specialty Beverages
I recently came across some very interesting programs offered in the brewing, tea and coffee industries. Each program prepares individuals to discern characteristics of the respective products. These informed people can judge competitions, help consumers make more informed choices and play a key role in quality control. First let’s take a look at the Craft Brewing industry. While hunting around … Read More