We know the craft brewery business because we’ve worked closely with numerous microbreweries, brewpubs, and craft distillers to develop an insurance program that meets the unique needs of your industry.
Keeps the Goodness Flowing¶
As a craft brewer, your passion lies in using time-honoured techniques to create fresh, delicious beers for local markets. But things like equipment breakdowns and supply chain problems can interrupt production and hurt your business.
While having the right insurance coverage is essential, you want to keep your mind on your business. That’s why Palladium Insurance has created the BrewAssure program — it’s a convenient, configurable program with everything you need to protect your brewery.
A Full Craft Brewery Insurance Program¶
Tailored to the Needs of Craft Breweries¶
Part of the advantage of Palladium Insurance is that we’re already familiar with the risks involved in craft brewery and distillery businesses.
Excise Tax Bonds¶
One of the ways that Palladium helps you get back to business faster is by helping you with your excise tax bond. This bond is required by the Canadian Government to ensure that taxes on products like beer, wine, and spirits are collected. We ask you a few easy questions, and ensure that the paperwork is filled out properly.
Supply Chain Insurance¶
Supply chain disruptions have become a new normal. Droughts can affect agricultural output, and politics, pandemics, or gas prices can affect transportation — it all means that everything can be easy or cost effective one day, and almost impossible the next.
Protect your business from financial loss when your production levels fall or production costs rise because of supply chain problems. In the event that one or more of your suppliers can’t provide the raw materials you need, you can help keep your bottom line healthy.
For many craft brewers, watching customers enjoy their creation on the premises is deeply gratifying. Providing a full-service bar or offering beer tastings during tours are great ways to do this. Whenever you serve any kind of alcohol, however, there’s an added risk that you need to manage. Liquor liability insurance is essential to cover damages to people and/or property if a customer ever alleges that they were over-served by your establishment.
Spoilage and Product Recall¶
You know that the quality of your product is the future of your business. Your customers have a world of choice out there, so the quality and flavour of the craft beer or spirits you make is crucial. You're already on top of the brewing, bottling, and storing process, but there are so many risks that are beyond your control. What if there's a defect in some of the materials that go into your product? What if there's a problem with temperature control on an off-site storage facility or with a delivery truck? What if someone tampers with your product? What if contaminated product reaches your customers and they become ill?
If this ever happens to you, there are key steps that the right insurance can help you with:
- Notifying the public about the risk and issuing a recall.
- Hiring a public relations agency to work with the media to provide damage control and preserve the image of your brand.
- Paying overtime costs for your employees as they work to get fresh product rolling.
- Paying transportation and other costs for replacing the defective product.
If your product has been spoiled or tampered with, it's your reputation that's on the line. Protect your name with coverage from Palladium Insurance.
Protecting Brewers and Other Key Employees¶
Your brewer or distiller is the heart of your business. Their experience, ability, and sense of judgement keeps the distinctive flavour and quality high and your production process as smooth as the beverages you make. Their skills include everything from chemistry to engineering to quality control and production management.
The question every company should be able to answer is: what would happen to your business if your brewer could no longer do what they do?
Key employee replacement insurance is designed to cover expenses of hiring new essential employees if he or she is ever disabled or killed.
A Full Spectrum of Coverage for Craft Breweries¶
Every brewery is unique, so you don’t have to buy coverage you don’t need. We provide flexible options to help breweries manage risks for:
- Spoilage and product recall coverage
- Liquor liability and host liability
- Supply chain insurance
- Business interruption
- Excise tax bonds
- Equipment breakdown
- Property and specialty equipment
- Copyright infringement and advertising liability
- Commercial vehicles
- Brands and labels
- Cyber liability
- Umbrella coverage
- General liability / slips and falls
- Disability insurance for employees
- Pandemic outbreak
- Succession planning
- Corporate life insurance
- Critical illness insurance
- Benefits programs for employees
- Disability insurance (business overhead expense or BOE)
We also have the expertise to help you with excise tax bonds.
Convenience and Expert Guidance¶
Our insurance experts are licensed to work across Canada, and understand the unique nature of craft brewery businesses. We:
- Work with you to determine your coverage needs.
- Read the fine print for you and help you understand it.
- Review your coverage with you annually.
- Advise you in claims situations.
We create the right package for you, selecting from the best options from dozens of insurance providers. The end result is the peace of mind you need to focus on your business.
Having insurance coverage that is tailored to protect the business you have worked hard to create is important. Whether it’s your CRA Excise bond, specialized equipment coverage, or liability insurance to meet the requirements of a lease, we will provide the guidance you need so that you understand the options and how your risks are managed.
Have You Considered These Risks?¶
BrewAssure includes options for coverage that most brewery owners haven’t considered.
Cyber Liability Insurance for Breweries¶
Just because you’re a small operation, it doesn’t mean you're safe from hackers. Every business, large or small, needs an effective IT security program.
If a cyber attack is successful, BrewAssure offers financial assistance to hire the experts you need for:
- Crisis management
- Mandatory breach notification services
- Forensic computer services
- Public relations
- Cyber extortion
- Data restoration
- Legal defense
- PCI fines and judgements
- Business interruption
Corporate Life Insurance¶
Corporate life insurance provides not only protection for the business should an owner, partner, or key employee pass on, it can help maximize the value of your financial assets.
Critical Illness Insurance¶
A major illness in a key team member can be devastating for your business. It can mean making a difficult choice between personal health and the health of the business.
That’s why the BrewAssure program offers critical illness coverage. In the event of cancer, heart attack, stroke, or other major illness, the coverage offers financial protection so that the business can keep going and your teammate can take the time they need to recover.
Business Owner Succession¶
While a craft brewery is a labour of love, most owners think about retiring at some point. We can help you understand which options are simply a smarter financial move, especially when it comes to taxation.
You’ve worked hard your whole life to build your business. We can help you protect it.
Attract and Keep Employees with Group Benefits¶
Your BrewAssure program can include attractive health care benefits like dental care and pharmaceutical coverage — whatever you and your employees want most.
BrewAssure’s health care benefits provide great buying power from partnering with hundreds of other companies, plus the flexibility to select the coverage type and amount that makes sense for your team.
Disability Insurance for Your Employees¶
Some disabilities, like a mental health condition or chronic pain that lingers after an injury, need the healing power of time. Disability insurance from BrewAssure can replace lost income for your team members, and can provide you with funds to hire a temporary replacement while they recover.