Product Liability Insurance and Exported Products

Tom WallaceExport, 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. Need insurance for exporting food or beverage … Read More

Certificate of Insurance

Tom WallaceContracts, 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

Product Liability or General Liability?

Tom WallaceLiability 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 designated … Read More

Cost of Liability Insurance

Tom WallaceLiability 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 because … Read More

Contract Review

Tom WallaceContracts, 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 will usually … Read More

Liability Insurance Limits

Tom WallaceContracts, General, Liability Insurance, Product Liability

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