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Food & Beverage Liability Insurance

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Liability insurance explained

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Food & Beverage Liability Insurance

  1. 1. Specialty Food & Beverage Insurance by Personal Coverage, Inc. Protecting Your for the World’s Enjoyment (and shedding some light on the insurance buying process)
  2. 2. Commercial General Liability ▪ Covers Bodily Injury and Property Damage to 3rd Parties due to the negligence of an insured from your ▪ Premise or operations ▪ Products or completed operations ▪ Covers Personal Injury (libel, slander, etc.) andAdvertising Injury ▪ Medical Payments to 3rd parties for premise and operations ▪ Defense costs associated with a claim
  3. 3. Liability Limit Example ▪ $1,000,000 PerOccurrence for: Bodily Injury and Property Damage ▪ $2,000,000GeneralAggregate: most the policy will pay in one year ▪ $2,000,000 Products & Completed OperationsAggregate: most the policy will pay in one year ▪ $1,000,000 Personal Injury & Advertising Injury ▪ $100,000 Property Damage to Premise Rented ▪ $10,000 Medical Payments to Others: not for products or completed operations claims
  4. 4. Policy Features ▪ Does a deductible apply? ▪ Additional Insureds ▪ CoverageTerritory ▪ Defense included in the limit of insurance or outside the limit of insurance ▪ Coverage limited to designated products ▪ Virus and Bacteria exclusions apply to products intended to be consumed? ▪ How is the policyAudited? ▪ Is it Occurrence or Claims Made?
  5. 5. Liability Insurance Overview 1) Commercial General Liability or Product Liability ? 2) Do limits meet your contractual requirements? 3) Occurrence vs. Claims Made 4) Additional Insured process, is there a charge? 5) Defense inside or outside the limits 6) What if you don’t want or need the policy any longer?
  6. 6. TomWallace, CIC, ARM, ExecutiveVP Specialty Food & Beverage Insurance by Personal Coverage, Inc. Protecting You for the World’s Enjoyment Toll Free 877-300-4760 (rings to my mobile) OR twallacejr@specialtyfoodbeverage.com www.specialtyfoodbeverage.com www.personalcoverage.com

Liability insurance explained

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