The growing craft beer industry is brewing a wealth of opportunity for insurance providers. Making the most of those opportunities is The Travelers Companies Inc., a provider of property casualty insurance for auto, home, and business.
In the past 30 years, according to the Brewers Association, the number of craft brewers has grown from eight to 1,600.
“Brewing craft beers is often a labor of love, but one that also poses unique exposures as this segment continues to grow rapidly,” says a Travelers press release.
Finding an array of coverage to properly insure an operation with a single company, however, can be challenging.
In an effort to help small brewers protect their investments, Travelers has introduced a specialized insurance offering with IndustryEdge for Craft Breweries. IndustryEdge includes industry-specific insurance coverage, experienced risk control consultants and dedicated claims services tailored to the nuances of this specialized segment.
“Travelers has the depth and breadth of underwriting expertise to offer core coverage for commercial insurance as well as specialty coverage for equipment breakdown, contamination risks, and product recalls, along with the ability to provide surety bonds,” President of Travelers Commercial Accounts Scott Higgins said. “IndustryEdge for Craft Breweries captures the specialized capabilities and coverages from Travelers Business Insurance to create a total solution that's on-tap for this niche industry.”
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