There are many insurance brokers out there. Picking the right one is about forging a long-term relationship, built around trust. You need to trust that your insurance will be there for you if you need it. To that end, you need to know that you will receive the right advice when purchasing insurance to meets your needs. Let’s be honest, insurance isn’t something that often sets the pulse racing. It is often emotive for the wrong reasons; it’s something you must have by law (in the case of employers’ liability cover or personal car insurance, for example), so it’s what is known as a ‘grudge purchase’. In many ways, buying insurance is like paying tax – you know you’ve got to do it, but it’s easy to be cynical about what happens with your money. However, insurance – like tax – underpins everything that we do. Without it, we would have no certainty that our day-to- day lives and businesses would function as they do now. Imagine that your premises are flooded, and you have no insurance. Who would cover the cost of repairing the building, or replacing its contents? How could you afford the cost of replacing damaged stock or equipment? Could you source alternative premises? Could you carry on trading? Or let’s say an employee suffers an injury while at work. Who would pick up the cost of a claim being submitted against your business? Indeed, how would you afford the cost of legally defending the claim? Continued on page 48 48 BREWING & BEVERAGE INDUSTRIES BUSINESS Specialist brewery insurer Russell Scanlan has recorded a significant spike in demand for its bespoke insurance solutions, as the country’s thirst for craft beers continues to grow. The boom in the number of breweries in the UK has resulted in an increase in the number of insurance providers who are starting to target this specialist market. However, in many cases, they don't have the specialist services and expert knowledge that are necessary to fulfil a brewery’s specific needs. A decade ago Russell Scanlan launched its specialist brewery insurance, Masterbrew, an innovative service which responded to a demand from small brewers who couldn’t find appropriate insurance for their businesses. Over recent years the product has been adapted to cater for the boom in craft gin distilleries too, as the team continues to develop its policies and expertise in the drinks market. Masterbrew incorporates innovative and sector related additions to insurance for operators of all sizes, including liability cover for specialist events such as beer festivals, extra cover for legal expenses with access to a legal helpline, loss of licence, commercial vehicle cover and enhanced protection of business income. Sales and marketing director at Russell Scanlan, Mike Dickinson (pictured), said this unique product is proving to be so popular because it provides cost- effective solutions in an increasingly complex and mature market. “Since 2007 when it launched, our brewery service has been in ever-increasing demand, with more than 20 breweries signing up for Masterbrew insurance in the last 10 months. These businesses are seeking tailored insurance packages to suit their specific operation. No two breweries are the same, all are unique like the product they produce, which means ‘off the shelf’ insurance does not tick the box. “The microbrewing sector has taken off at speed over the last decade and has become a shining example of innovative British industry. But like with any new sector of business, it has changed rapidly as it has formed a profitable model and with that change comes complexity which many small brewers have found hard to keep up with.” Although insurance is a universal requirement for every business, breweries will often seek out brokers who can fulfil their unique needs quickly and efficiently as the market continues to evolve and their insurance requirements change. Mike continued: “As a general rule, breweries tend to have less claims than many other businesses, but their needs are very specific and develop as the sector grows. For example, as breweries take on more staff, we are seeing more claims made by employees for injuries caused whilst at work. This type of claim can often be avoided by the brewery having well documented procedures in place to make sure that if an incident does occur, they are properly recorded – something Russell Scanlan can help set up. This will enable insurers to defend their case more efficiently.” “We believe small businesses like microbrewers are the backbone of the UK economy and we want to make it as easy as possible for them to establish their business with the peace of mind that they are always effectively insured.” Aimed at brewers of all sizes as well as gin distilleries and bar and pub operators, Masterbrew insurance services start from as little as £250 plus Insurance Premium Tax (IPT) with an option to pay by instalments throughout the year. Specialist insurance for brewer AND distiller Insurance - why it pays to pick the right cover russellscanlan.com For more information visit: Showcase BUSINESS SERVICES 48_Layout 1 13/08/2017 11:34 Page 1