The 3 R’s To Buying Workers’ Compensation Insurance: Review, Reboot, Renew

As a business owner you know that Workers’ Compensation insurance is required by law; but did you know that each time you renew, your business has an opportunity to streamline your costs and methodology? The three R’s to buying workers’ compensation insurance might just help you better
understand what our goal is in helping you.

Review Your New York Workers’ Compensation Insurance

Ask yourself these questions:

• Have the needs of your business changed?
• Did you add or lose employees this year?
• Have there been any classification changes?

The key to having proper coverage is making sure that your policy reflects what is going on with your business “right now!” So what happens after you review & after you make sure that your level of workers’ compensation insurance is at the right level?

Reboot Your Business Insurance

We’re glad you asked! Now, it’s time to look at the company you’re insured with. Think of your upcoming policy renewal as an opportunity to start fresh! Or as we like to call it, Reboot! So what does that mean exactly? We’re glad you asked!

• You want to find a company that can serve your needs with old school attention to detail while at the same time provide the most up to date
  methods of keeping in touch.
• You want to find a company that understands that each workers’ compensation carrier has different rates for different class codes or
  industry classifications. You want them to find that carrier that perfectly matches your industry and thus offers the lowest rates for your
  classification.
• You want to find a company that will keep you up to date on a law that might change that has an effect on your bottom line or a streamlined
  way to file, help you file a claim so you don’t have to.
• Renewing your Workers’ Compensation Insurance is your chance to make sure you’re not missing out on the best service and technology that can be offered.

Renew New York Workers Compensation Insurance Policy

Now you are ready to renew. We are here to answer all of your questions.

Call Enforce Coverage Group today to learn how our agents can quickly & easily take you through the rest of the process making sure you are getting
the best rate & service possible!

The post The 3 R’s To Buying Workers’ Compensation Insurance: Review, Reboot, Renew appeared first on Enforce Coverage Group.

Brewery Insurance: Coverage Insights for Insuring Craft Breweries

In the past 30 years, the number of brewers in the United States has grown from under 100 to more than 2,400. Of these breweries currently in operation, almost 98 percent are considered regional craft brewers, microbreweries or brewpubs. With this continued trend, insurers have begun to offer more effective brewery insurance policies to address the unique exposures faced by this ever-expanding section of the industry.

Given their size and average output, the needs of craft brewers vary greatly from the larger, more traditional breweries. While larger breweries can primarily be described as manufacturing outfits, it is not uncommon for craft breweries to be run in conjunction with restaurants or pubs, often operating in the same location.

Selecting the Right Brewery Insurance Coverage

In addition to the general and property liability coverages that every New York craft brewery business should carry, the following policies help protect against common exposures faced by craft brewers:

• Boiler and machinery coverage: Many smaller breweries are not able to handle the production interruption caused by the loss of a key piece of equipment. This coverage can help with repair or replacement costs for damaged equipment as well as cover losses resulting from production interruption and downtime.
• Supply chain insurance: Many craft breweries do not keep large stocks of ingredients on hand, making regular shipments from suppliers essential. Supply chain insurance will cover losses resulting from decreased production or increased production costs in the event that one or more of your suppliers is unable to provide the materials you need.
• Spoilage and product recall: If a batch of beer is contaminated during the brewing or packaging process or spoils before distribution, a provision for spoilage can cover the initial production cost as well as lost revenue. If a contaminated batch isn’t caught before shipping and the beer makes it to store shelves, coverage for product recall can help offset the costs of removing the tainted product and replacing it.
• Liquor liability: Regardless of whether you have a full-service bar or offer beer tastings after tours, liquor liability is essential to cover damages to persons and property caused by patrons who were over-served at your establishment.

By mixing and matching these policies based on the unique needs of your operation, you can obtain maximum coverage at an affordable price. Some insurers offer these coverages in packages specifically for craft brewers that can be further tailored to address the needs of your individual operation. If your operation involves a restaurant or other type of food service, you will need to consider additional coverage for related exposures.

Work With a Brewery Insurance Expert

The world of craft brewing is rapidly expanding, and as it does insurers are becoming increasingly effective at identifying and addressing its diverse risks. New combinations and specially structured coverages are constantly being made available to brewers. By working with the experts at Enforce Coverage Group, you can be sure that you are being provided with the latest options in brewing coverage. Let us help you build a comprehensive package that will cover all of your exposures, no matter how unique. Request an insurance quote or call us today (212) 947-4298.

Source: Zywave

 

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This Coverage Insight is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice.

The post Brewery Insurance: Coverage Insights for Insuring Craft Breweries appeared first on Enforce Coverage Group.

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