CRC Insurance Services’ Post

🔍 Safeguarding Your Business with Product Recall Insurance! 🔍 Over the past few days, headlines have been dominated by a significant #ProductRecall affecting dozens of sandwiches and wraps sold by major retailers including Boots, Asda, Tesco, Co-op, Aldi, Sainsbury's, and Amazon, among others, over a #Ecoli outbreak. This incident underscores the critical importance of Product Recall Insurance for businesses in the food industry. Here’s why: - Consumer Safety: Ensuring the well-being of your customers is paramount. - Financial Protection: Recalls can be costly, involving not just the direct costs of removing products but also potential legal fees, fines, and compensation claims. - Brand Reputation: Quick and effective response to a recall can preserve a company's reputation. - Regulatory Compliance: Product Recall Insurance often includes access to experts who can guide companies through compliance requirements. As the recent E-coli outbreak highlights, no company is immune to the risk of product recalls. Being prepared with comprehensive Product Recall #Insurance is not just a safety net—it's a business imperative. Our experienced team of account executives at Citynet Insurance Brokers is here to answer any enquiries you may have on this topic. Get in touch now! https://bit.ly/4erkDjb #ProductRecall #Insurance #FoodSafety #EcoliOutbreak #ConsumerProtection #BusinessRisk #BrandReputation #RegulatoryCompliance #insurancebrokers #Citynet

This time of year is perfect for quoting accounts who need liquor liability. Whether it's a holiday party or a restaurant/tavern, we got solutions. Check out this week's Tuscano Toolbox Tip where we share just how easy it is to quote these exposures! #tuscano #familyowned #learnwithus #liquorliability #insurance

I've been in the insurance business for 46 years so I am used to raining on some peoples parade, sorry. For all of the restauranteurs and other food service industries that serve alcohol now is the time to make sure you have liquor liability (Dram Shop) coverage. I have been in the restaurant business and experienced first hand the issues about liquor liability. I also have had clients have to defend themselves from these legalities. So while we are heading into our favorite time of the year with Christmas and especially New Years, its best to make sure this coverage keeps up with the current environment! Here's a good article about the current insurance market conditions regarding Liquor Liability. #liquorliability #dramshop #insurance #bars #taverns #hospitality #toomuchfun #riskstrategies

Heading to WSIA (Wholesale & Specialty Insurance Association) Underwriting Summit. If you see the yellow backpack please stop me and say hello. #networking #first #smallbusinessinsurance #generalliability #riskmanagement #wsia #underwritingsummit

🍺 Liquor liability is out of control Premiums for hospitality 🍱 establishments are skyrocketing, insurance carriers are pulling out, and loss ratios are beginning to consistently exceed 100% for the industry. But why? 🤔 🧪 Lack of data moving transparently and efficiently between the insurance carrier and the policyholder. Moreover, brokers are running wild with their hair on fire 🔥 to gather as much information as they can and are as stretched thin as ever. Furthermore, as claims and payouts increase, broker bonuses begin to dissipate as well. All 3 stakeholders are losing: - Carriers lose $$ - Brokers lose bonuses & are stretched thin - Policholders have premium costs skyrocket Will be interesting to keep an eye on this as it plays out. Hospitality establishments will always and forever needed insurance. Who will write it? That may be one of the great questions of the next few decades in the industry… CC David DeLorenzo Sinatra #phoenixaz #hospitalityindustry #restaurantindustry #insuretech #foodandbeverageindustry https://lnkd.in/gqCbiZQr

Only a few more days until the #WSIA Insurtech Conference! 🙌 From AI to LLMs to automation, it will be exciting to hear what predictions they have for 2024 and beyond 🚀 #insurtech #conference WSIA (Wholesale & Specialty Insurance Association) #austin #insurance #underwriting

As you prepare to celebrate this festive season, remember that liquor liability is a crucial consideration to ensure both the enjoyment and safety of your guests. 🎉 👉 Who's responsible for purchasing liquor liability insurance? Here's a quick breakdown: 1️⃣ Party Host: Typically, the host is responsible for this coverage as they throw the event and ensure their guests' safety. 2️⃣ Caterer: Depending on the host-caterer contract, the caterer might need liquor liability insurance if they serve alcohol at the event. 3️⃣ Venue: If the event space provides the location, they might also need liquor liability insurance due to their responsibility for guest safety when alcohol is in the mix. Stay aware of event-specific risks for safe and joyful holiday gatherings! https://hubs.la/Q026_9N70 #LiquorLiability #HolidayEvents

A Look at the Liquor Liability Landscape Liquor liability availability and pricing have put small business owners in the alcohol-related sector in some states in a bind. While securing coverage is easy in some areas, premiums have skyrocketed and carriers have pulled out of others. Read more! #SUMCares #securityUnderwriting #securityunderwritingmanagers #insurance #insuranceagent #insurancebroker #insuranceindustry #insurancebroker #insurancebrokerage #insuranceadvisors #insuranceservices #insurancenews #insuranceagents

At DeCotis, we've heard of some crazy insurance policies, and this one has us tongue-tied. Gordon Ramsay, famous for yelling at contestants on his reality show, Hell's Kitchen, has his tongue insured for $10 million. #celebrityinsurancepolicies #gordonramsay #chef #tongueinsurance #insurancewholesaler #specialtyinsurance #decotisspecialtyinsurance

IAG (key brands include The NRMA, RACV, SGIO, SGIC) is the subject of a class action from Slater and Gordon Lawyers for failing to pass through loyalty discounts to customers in Victoria, Western Australia, and South Australia between 2018 and 2024. IAG has remediated customers $60m for the discounting failures. IAG has already been fined Au$40m for pricing failures at NRMA in June last year, and ASIC is suing IAG's brands SGIO, SGIC and RACV, alleging similar discount failures. ------- 🔹Loyalty Central is a unit of Ellipsis & Company https://lnkd.in/gDHxDxPD - the loyalty experts. 🔹Sign up here for Loyalty Central's monthly loyalty market update, a "just the facts" summary of all the news (including this piece) https://lnkd.in/gmQUU6KF