winery plus - d1hks021254gle.cloudfront.net · DISCLAIMER: This literature is descriptive only. ......
Transcript of winery plus - d1hks021254gle.cloudfront.net · DISCLAIMER: This literature is descriptive only. ......
DISCLAIMER: This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Your issued policy may contain limits, exclusions, and limitations that are not detailed in this brochure.
winery plus
Memorable winemaking necessitates innovation, expertise, and collaboration. These
same traits are similarly embedded in well designed insurance programs. Alteris Insurance
Services, Inc. (Alteris) operates on such principles and prides itself on providing proprietary
insurance to select industry segments. Our quality workmanship is exemplified in a “best-
in-class” insurance program for vintners. Winery Plus blends financial stability with niche-
proficient underwriting, risk control, and claim professionals. This synchronization, coupled
with prudent flexibility and functional winery knowledge, creates a distinct value-proposition
for select vintners across the country.
Winery Plus targets wineries (bonded & virtual), vineyard estates, and custom crush facilities
with annual case production below 500,000. Our coverage portfolio includes:
Property ◙ (including spoilage, contamination, and leakage)Equipment Breakdown ◙Property in Transit ◙Mobile Equipment ◙Crime ◙General Liability ◙Liquor Liability ◙Product Withdrawal Expense ◙Employee Benefits Liability ◙Wind Drift or Overspray ◙Automobile ◙Excess Liability ◙
Many of these coverages are offered automatically. A few are available as optional
enhancements. We invite you to consider the advantages of Winery Plus.
To learn more, please contact your broker or visit us at www.alterisus.com.
•We provide safe,
l ong-term, and comprehensive
solutions f or your property and liability
insurance needs.•
DISCLAIMER: This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Your issued policy may contain limits, exclusions, and limitations that are not detailed in this brochure.
service compact
risk control
Risk control plays an integral role at
Alteris. Our risk control professionals are
available to assist you with asset protection,
hazard identification, and mitigation
strategies. We are a resource for insurance-
to-value calculations, onsite property
analysis, equipment arcing, and premises
safety. Auxiliary services include emergency
response and disaster recovery planning.
We encourage you to take advantage of
these benefits.
claims HANDLING
Quick recovery from loss is essential for
vintners. Wine that is not on retailer shelves
invariably results in lost market share and
diminished customer allegiance. Alteris
understands this reality and the importance of
time urgency in rebuilding brand affinity. Our
claim associates work with you to promptly
restore your operations after a covered loss.
Service etiquette is equally important. Phone
calls are promptly returned, questions clearly
answered, and updates routinely imparted.
Simply said, your loss remains in our
foreground until its equitable resolution.
•We collaborate with your broker to ensure a carrier relationship that is meaningful,
trustworthy, and value-based. •
DISCLAIMER: This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Your issued policy may contain limits, exclusions, and limitations that are not detailed in this brochure.
property
Comprehensive, integrated, and methodical insurance protection encapsulates our niche-
specific property form. Coverages such as equipment breakdown, property in transit, mobile
equipment, and crime are automatically incorporated. Specialty coverages include wine
contamination, spoilage, wine leakage, nesting/infestation, and property temporarily off-
premises. Blanket policy limits apply at described premises to buildings, business personal
property, and stock. We offer a separate blanket limit for eight (8) key coverage extensions and
meaningful sublimits for forty (40) additional coverage extensions. Coverage for earthquake
sprinkler leakage is available via optional endorsement and stock permanently stored at
unnamed locations is automatically included at $250,000, with higher limits available by
endorsement.
Our definition of covered property is tailored to include winery equipment, barrels, underground
caverns, and trellises. Stock comprises harvested unprocessed fruit, wine in-process, and your
finished product. The valuation method for stock includes market price and agreed value
options. Replacement cost is offered on buildings and structures; ordinance and debris removal
are automatically included. Business income and extra expense are calculated on an actual loss
sustained basis up to the blanket coverage extension limit or pre-determined timeline
(i.e. 12 or 24 months). Extended business income is also included as you re-build business
income to pre-loss levels after the resumption of your operations.
The design of a strategic first-party insurance portfolio begins with a comprehension of
coverage terms, limitations, and exclusions. Winery Plus encompasses a winery-specific property
form that is easy-to-read and customizable. We encourage you to review our form with your
broker.
•Our property form
is easy-to-understand and clearly identifies what is and what is
not covered.•
DISCLAIMER: This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Your issued policy may contain limits, exclusions, and limitations that are not detailed in this brochure.
Stock Valuation
Valuing stock after a loss can be complex and subjective. This reality initiated the development
of simplified valuation methods that are logical and coherent. Wine products that you schedule
are valued differently than unscheduled wine and unscheduled distilled wine products. There is
less ambiguity when stock is scheduled. For unscheduled stock, we use your past sales history
and may consult a third-party expert to independently quantify the dollar amount of your loss.
A summary of our valuation methods are as follows:
property
Scheduled Wine ProductS
harvested unprocessed ◙fruit while on your premise Valuation method: agreed value
unbottled wine products ◙ Valuation method: agreed value
Bottled wine products ◙Valuation method: agreed value
unScheduled Wine ProductS
unscheduled bottled winery products ◙Valuation method: market price of case goods prior to loss Note: Unscheduled bottled winery products means wine and other winery products that are irreplaceable in kind and quality; and, in the ordinary course of business, would be bottled.
unscheduled bulk wine ◙ Valuation method: lesser of: a) market price of wine prior to loss; or b) market price of replaceable comparable or bulk wine of like, kind, and quality at time of loss.
unScheduled diStilled Wine ProductS
Bottled distilled spirits ◙ Valuation method: market price at time of loss less discounts and expenses you would have incurred.
Bulk distilled spirits other than ◙irreplaceable bulk distilled spirits
Valuation method: bulk market price at time of loss less discounts and expenses you would have incurred.
older bulk distilled spirits ◙ Valuation method: bulk market price per proof gallon of equivalent bottled distilled spirits at time of loss less unpaid taxes, refundable taxes, and conversion expenses to bottled distilled spirits.
Younger bulk distilled spirits ◙ Valuation method: bulk market price of new distilled spirits of same kind and quality and pro-rata of the differences between: a) the value the spirits could have been sold for at time of loss; and b) market price of such bulk distilled spirits at attained age.
important clarification: Market price is based on your past sales history and refers to what your wine or distilled spirit could have sold for at the time of loss.
•Our simplified
valuation methods all ow you to
understand how a loss will be paid before it happens.
•
DISCLAIMER: This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Your issued policy may contain limits, exclusions, and limitations that are not detailed in this brochure.
sALIENT enhancements
eQuiPMent BreakdoWnAccidents to covered equipment can
spoil stock and finished products. Equipment
breakdown protects covered equipment and
reimburses you for stock spoilage resulting
from covered changes in humidity and
temperature. Stock spoilage also extends to
on-and-off premises power failures that are
beyond your control. This unique coverage
applies irrespective of direct physical damage
at the utility power station. Equipment
breakdown is included in our property policy
and subject to our blanket policy limit.
criMeThe prevalence of cash transactions
and porous record keeping makes wineries
susceptible to crime losses. We address
these concerns by offering two types of
crime coverage: Money & Securities
insures against theft, disappearance, and
destruction of said property. employee
dishonesty protects against the financial
loss of money and securities from the
fraudulent activities of an employee.
We include money & securities’ limits of
$10,000 for off-premises and $25,000
for on-premises. A $50,000 limit applies
to employee dishonesty. Higher limits are
available.
ProPertY in tranSitCurrent transport logistics involve an
array of carriers and liability caps. Winery
Plus offers market price and agreed value
options for stock during transit in the United
States, its territories, and Canada. This
coverage is comprehensive with limited
restrictions and no reporting requirements.
A limit of $100,000 is automatically offered.
Higher limits are available.
Wine contaMinationW ine contamination is a significant
exposure facing wineries. It is also the
most difficult coverage to understand.
We define contamination to mean any
impurity caused by contact or mixture with
a foreign substance. Wine, sulfur dioxide,
yeast, and any other component normally
used in the winemaking process are not
considered a foreign substance. Defects
in the raw product are not a covered peril.
This coverage protects against accidental
contact of wine (in any stage of process)
with an impurity that is not part of the
normal winemaking process. Wine as a
foreign substance is also available as an
optional endorsement.
property
•Equipment Breakdown protects against accidents to covered equipment as well as stock spoilage
resulting from temperature and humidity changes.
•
DISCLAIMER: This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Your issued policy may contain limits, exclusions, and limitations that are not detailed in this brochure.
COVERAGE OVERVIEW
ForM Proprietary ◙integrated ◙
keY FeatureS Bu ◙ ildings, Business Personal Property & Stock
Blanket policy limit (described premises) ◘Replacement cost (buildings, ◘
business personal property); and market price or agreed value (stock)
No coinsurance penalty ◘Wine contamination & leakage ◘
Mobile equipment ◙Blanket limit ◘Actual Cash Value ◘
coverage extensions ◙Separate blanket limit ◘
Business income ▪Extended business income ▪Extra expense ▪Civil authority ▪Contingent transit coverage ▪Tenants leasehold interest ▪Electronic data ▪Preservation of property ▪
Property in transit ◙Separate sublimit ◘Market & agreed value options ◘
(stock)Replacement cost ◘
(business personal property)Non reporting ◘
Wine leakage ◙Separate sublimit ◘Market & agreed value options ◘
notaBle excluSionSFaulty or inadequate Workmanship ◙damage to Stock during ◙Manufacturing or Processing operationsunfitness of Product, including raw Stock ◙
covered ProPertYBuildings including: ◙
Completed additions ◘Fixtures, including outdoor fixtures ◘Permanently installed equipment ◘Permanent storage tanks ◘Light standards ◘Fences ◘Patios and paved surfaces ◘Signs ◘Trellis and vines ◘Underground caves ◘Well-housings ◘Personal property owned by ◘
you that is used to maintain your scheduled buildings
Additions under construction ◘ including materials, equipment and supplies
Business Personal Property including: ◙Property you own that is used in ◘
your businessFurniture and fixtures ◘Winery machinery and equipment ◘Tenant improvements and ◘
bettermentsLeased personal property ◘
for which you have a contractual responsibility to insure
Stock including: ◙Picked or crushed raw material ◘
in the state in which you receive it for conversion to wine
Wine that has undergone any ◘ aging, seasoning, mechanical or other process of manufacture but is not finished goods
Wine in cooperage ◘Bottled wine ◘Finished goods held in storage or ◘
for saleStock of others in your care, ◘
custody and control, but only if scheduled on the Statement of Values on file with us
Packing and shipping supplies ◘
property
•Bl anket pol icy
limits apply to described premises
and includes buildings, business personal property,
and stock.•
DISCLAIMER: This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Your issued policy may contain limits, exclusions, and limitations that are not detailed in this brochure.
COVERAGE OVERVIEW
ProPertY coverageS SuBliMit (in addition to your blanket policy limit)
Fire Department Service Charge $5,000
Pollutants Clean Up and Removal *$50,000
Dependent Business Premises $250,000
New Locations or Newly Constructed Property $1,000,000
Business Personal Property at New Locations $1,000,000
Property Temporarily Off Premises (buildings)
$250,000
Property Temporarily Off Premises (business personal property & stock)
$250,000
Personal Effects and Property of Others *$25,000
Outdoor Property $25,000
Trees, Shrubs, Plants, and Lawn $25,000
Non-owned Detached Trailers $5,000
Depositor’s Forgery $25,000
Accounts Receivable *$250,000
Valuable Papers *$250,000
Money & Securities Inside Premises *$25,000
Money & Securities Outside Premises *$10,000
Employee Dishonesty *$50,000
Fire Protection Devices $1,000
Cost of Inventory or Adjustment $5,000
Utility Services - Direct Damage (this limitation does not apply to stock damage)
*$25,000
Utility Services - Business Income and Extra Expense (this limitation does not apply to stock damage)
*$25,000
Contract Penalties $100,000
Arson Reward $10,000
Indoor and Outdoor Signs $25,000
Mobile Equipment (owned, rented and leased)
*$25,000
Fine Arts *$1,000 per item*$25,000 maximum
*Signifies property is eligible for a sublimit increase.
ProPertY coverageS SuBliMit (included in your
blanket policy limit)
Furs and Fur Garments $2,500
Jewelry, Watches, Precious Metals $2,500
Patterns, Dies, Molds, Forms $2,500
Backup or Overflow of Water from Sewer, Drain, Sump
*$25,000
Ammonia Contamination (this limitation does not apply to stock damage)
$100,000
Trellis and Vines $100,000
Property in Transit *$100,000
Unintentional Errors $100,000
Debris Removal 25% of scheduled limit
Ordinance or Law Provision 25% of scheduled limit
Packaging Errors $25,000
Water Processing $25,000
Stock at Unnamed Locations $250,000
property
•Unint entional errors
for mistakes on l ocations and asset
schedules are forgiven up to $100,000.
•
DISCLAIMER: This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Your issued policy may contain limits, exclusions, and limitations that are not detailed in this brochure.
W inery Plus offers vintners meaningful peace of mind. Our integrated general liability form
safeguards your financial assets and reputation. Contemplated hazards include: winemaking
operations; wine tasting facilities; onsite tours; retail outlets; product distribution; food
preparation; and special events. Integral to this form is liquor liability, which shields you from
exposures arising from the selling, serving, or furnishing of alcoholic beverages. Moreover,
product distribution is afforded on a worldwide basis for suits brought in the United States.
We similarly customized our definition of insured to reflect the diversity of vintner ownership.
Coverage is extended to include your employees, volunteers, vendors, and lessors.
As a complement to your general liability form, we offer a variety of liability coverage options.
Wind drift and overspray provides bodily injury and property damage protection resulting
from chemical drift of your fertilizers, herbicides, insecticides, and fungicides. Product
withdrawal expense reimburses you for costs incurred to remove unsafe products from the
market. employee benefits liability extends coverage for ministerial errors associated with the
administration of your employee benefit programs. These enhancements fortify your general
liability coverage. Each option is easy-to-activate, affordable, and highly recommended.
general liability
•We provide a comprehensive,
int egrated general liability form that
can be tailored to your unique situation.
•
DISCLAIMER: This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Your issued policy may contain limits, exclusions, and limitations that are not detailed in this brochure.
COVERAGE OVERVIEW
ForMOccurrence ◙Duty to Defend ◙Non Auditable ◙
coverageBodily Injury and Property Damage ◙Liquor Liability ◙Personal and Advertising Injury ◙Medical Expenses ◙
liMitS$1,000,000 Each Occurrence ◙$2,000,000 General Aggregate ◙$2,000,000 Products-Completed Operations Aggregate ◙$1,000,000 Personal and Advertising Injury Aggregate ◙$1,000,000 Each Common Cause (liquor liability) ◙$2,000,000 Aggregate (liquor liability) ◙$1,000,000 Damage to Premises Rented to You ◙$10,000 Medical Expense ◙
covered inSuredSSole Proprietorships ◙Partnerships or Joint Ventures ◙Limited Liability Companies ◙Other Organizations ◙Employees ◙Volunteers ◙Real Estate Managers ◙Permissive Users of Mobile Equipment ◙Vendors ◙Lessors of Equipment ◙Lessors of Premises ◙Subsidiary or Newly Acquired or Formed Organizations ◙
keY FeatureSWorldwid ◙ e Coverage Territory for Suits brought in the United StatesSeparation of Insureds ◙Waiver of Subrogation ◙Fellow Member ◙Per Location General Aggregate ◙Separate Limits for Liquor Liability ◙Blanket Additional Insured Endorsement ◙No Premium Charge for Additional Insured Endorsements ◙
notaBle excluSionSEmployment Practices Liability ◙Intellectual Property Laws or Rights ◙Pollution ◙Recall of Products, Work or Impaired Property ◙Damage to Various Property of Others (care, custody, or control) ◙
general liability
•Product Withdrawal
Expense, Wind or Chemical Drift, and Employee
Benefits Liability are available as optional
endorsements. •
DISCLAIMER: This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Your issued policy may contain limits, exclusions, and limitations that are not detailed in this brochure.
COVERAGE OVERVIEW
liaBilitY oPtionSemployee Benefits liability ◙
Claims Made and Occurrence Options ◘Prior Acts Continuity ◘$1,000,000 Limit ◘
Wind drift or overspray ◙Occurrence ◘Bodily Injury and Property Damage ◘$1,000,000 Limit ◘
Product Withdrawal expense ◙Occurrence ◘Limits from $50,000 to $250,000 ◘
note: Each liability coverage option is easy-to-add and affordable.
general liability
•Bolt-on liability options augment
your general liability coverage by uniquely addressing specific
l oss exposures.•
DISCLAIMER: This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Your issued policy may contain limits, exclusions, and limitations that are not detailed in this brochure.
Automobile & EXCESS LIABILITY
W inery Plus also offers automobile and umbrella protection. Our automobile portfolio
includes: owned, non owned, and hired liability; uninsured motorists; medical payments; owned
and hired physical damage; personal injury protection; and fellow member. Excess Liability
policies are available with limits up to $10 million. Underlying coverages are inclusive of
general liability (including liquor liability), automobile liability, and employers’ liability. Like our
other coverages, automobile and excess liability incorporate niche-specific rating methodology.
additional coverages
•Catastrophic winery claims can be masked
in automobile accidents, product tampering, liquor impairment, and premises liability.
•
DISCLAIMER: This literature is descriptive only. Actual coverage is subject to the language of the policies as issued. Your issued policy may contain limits, exclusions, and limitations that are not detailed in this brochure.
Alteris Insurance Services, Inc. (Alteris) is a full service managing general agency
providing strategic risk solutions to brokers and clients throughout the United States.
Capabilities include product placement, underwriting administration, capital management,
system solutions, claims services, risk consultation, and reinsurance coordination. Key
disciplines comprise select commercial and public subsets including wineries, custom crush
facilities, alternating proprietors, craft breweries, consulting foresters, logging contractors,
landscape contractors, water related entities, and emergency service organizations.
Winery Plus is underwritten by an a.M. Best rated 'axv' carrier and distributed exclusively
through hand-selected insurance brokers. For information, please contact your broker
or our program underwriter, Brandon Seymour at [email protected].
Program underwriter:
Alteris Insurance Services, Inc.CA Agency License 0H94714
Ashley ForslundT 720.484.6938C 303.870.9849
www.alterisus.com
about aLTERIS
•Alteris works with
financiall y secure and specialty carriers
that possess “A” (Excell ent) ratings from the prominent
rating agencies.•