A.M.BestTV: Growth of Craft Brewing Presents Risks and Opportunities

OLDWICK, N.J.--()--This A.M.BestTV episode looks at an insurers’ report on the growth of microbreweries, which is driving new coverage needs. Insurers, owners and Best's Underwriting and Loss Control Center highlight the industry's unique mix of hazards.

Scott Greico, president, Middle Market, at The Hanover Insurance Group, noted the uniqueness of the brewery industry and the specialized coverages that are needed given the possibility of business interruption, breaking down of equipment, more and higher taxes, spoilage, food contamination and loss of quality control.

According to Best's Underwriting and Loss Control Center, automobile liability, general liability and workers’ compensation are the three main items that should be considered when underwriting a brewery.

Click here to view the video program: http://www.ambest.com/v.asp?v=brew814.

Other people who appear in this episode include:

  • Peter Whalen, Owner, The Whalen Agency; and
  • Peter Doering, Co-Founder, Two Roads Brewing Company

Recent episodes of A.M.BestTV include:

  • Risk Model Expert Karen Clark Explains “Characteristic Events”: Karen Clark, principal at Karen Clark & Company, explains why insurers and risk managers should look beyond traditional loss analysis and consider identifiable characteristics of catastrophe events: http://www.ambest.com/v.asp?v=clark814.
  • Insurance Research Council Report: More Auto Claimants Turn to Lawyers: Despite no-fault insurance, along with insurers having a focus on settling claims amicably, a study from the Insurance Research Council shows that the percentage of claimants seeking attorney representation continues to rise: http://www.ambest.com/v.asp?v=lawyer814.
  • State Compensation Funds Worry About Impact of Opioids: The hot button issue of opioids and their negative impact on workers’ compensation costs was considered at the American Association of State Compensation Insurance Funds Conference: http://www.ambest.com/v.asp?v=aascif814.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contacts

A.M. Best Company
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com

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Contacts

A.M. Best Company
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com