Being a brewer or distiller in today’s fragmented and ever-changing market is fraught with challenges.
Large or small, businesses in the sector are facing unprecedented pressures, from rising costs (both supplies and people), competition and mercurial consumer preferences to accessing distribution channels, regulatory complexity, supply chain disruption and declining sales. The need for robust risk management and the right advice to build greater resilience to the ebbs and flows of business has never been greater.
To support this creative and innovative industry, Partners& has launched a new insurance solution, backed by AXA, and is working with business owners to help them to understand their risks and make informed decisions.
Whilst breweries and distilleries each have unique features to their products and their manufacturing processes, they share similar risk profiles. From micro-breweries and artisan distilleries to alcohol warehouse and alcohol retailer, including online and premises-based retails, and auction houses.
Key features of the solution include:
- Product liability (that extends to North America)
- Product recall cover of up to £100,000
- Bursting bottles and barrels up to £10,000
- Business interruption that includes yeast
- Contamination up to £50,000
- Goods in transit
- Property damage
- “All risks” wording, meaning there are no specified exceptions on maturing alcohol, wine, spirits, and bottle stock
According to Ewan MacDonald, Partners& CEO (Trading):
“We have developed this policy with the needs of brewers and distillers in mind. Having worked with these vital UK industries for many years, we have a deep understanding of the challenges they face and we’re committed to working in partnership with them to anticipate their risks and put in place solutions to enable them to thrive. We’re thrilled this is now out in the market and look forward to sharing it with clients and prospects.”