Why It Matters
You have big dreams, and we have a passion for helping organizations to manage their everyday risk, recover from unexpected events, and realize those dreams. At Kapnick, we think in years, not quarters, to help enhance your growth and development and secure your future.
What We Do
Our Food and Agribusiness experts understand how important agriculture is to our US economy. We’ve watched food processors, the grocer industry, and agribusinesses face increasing pressures from government regulations, increased liabilities and litigation, environmental issues, and the general public. Through our exclusive programs with top carriers, we provide access to commercial coverage from mill to table, and create specialized benefit packages to retain and attract top talent, whether they’re in the corner office or the processing plant.
Protecting the high-value assets of your industry requires a sophisticated and knowledgeable broker who can develop strategies to limit exposures and lower the costs of risks. Through various strategic partnerships, the Food and Agribusiness team assists each client in developing specific systems and procedures to manage your risks using our exclusive risk analysis system to mitigate loss and improve efficiencies. RisKap includes:
- Consultation – in depth evaluation of your organization’s programs and strategic goals
- Assessment – trending analysis and claim forecasting
- Development – validated experts, insurance carrier programs, and technology solutions
- Implementation – targeted employee communications and safety committee meetings
- Monitoring and Support – administrative support, claims advocacy, and continued educational opportunities
For more information on RisKap, our exclusive risk management system, please
Who We Partner With
The Kapnick Food and Agribusiness team strives to be more than just a vendor to our clients. We get to know you, your individual organization, and your people in order to clearly understand the specific risks you face. We want to be your strategic partner and collaborator, sitting on the same side of the table with you to create long-term solutions for your particular corporate risk and employee benefits needs.
We represent a wide spectrum of food and agribusiness companies including:
- Food Processors
- Dairy Product Processing
- Feed Mills
- Flour Milling
- Breweries and Wineries
Storage and Handling of Commodities
- Grain Elevator Operations
- Grain Storage
- Grain Brokering and Marketing
Agribusiness Suppliers and Vendors
- Ag Chemical Distributor
- Farm Supply Stores
- Fertilizer Blending and Distributors
- Regional and Local Farm Cooperatives
- Beverage Distributors
- Food Distributing
- Wholesale Grocery Distribution
We Have Unique Expertise In
- Alternative risk (high deductible structured programs, captives, and risk-sharing pools)
- Environmental risks
- International risk and exposures
- Ocean and domestic cargo
- Product contamination coverage
- Product recall coverage
- Claims advocacy and management
- Contract review and insurance policy compliance
- Disaster management and loss prevention services
- Experience modification review and analysis
- Premium allocations and budget preparations
- Competitive bidding of insurance programs
- Health and welfare services
- Healthcare analytics
- Human resource services (including an in-house call center for enrollment, FSA, COBRA, and benefits administration)
- Healthcare reform consulting
- International benefit services
- Executive benefits
- Retirement services
- Voluntary benefits
- Wellness initiatives
- Compliance insight
How can food & agribusiness insurance protect you?
Use the yellow hot spots and explore how food & agribusiness insurance can help protect against common risks.
Commercial General Liability Insurance
The manufacturing business is unique and comes with many exposures, which can lead to a potential lawsuit. What if a fire breaks out and damages the building and halts production - causing you to default on your delivery contracts? Would your business survive?
Commercial general liability insurance is an absolute necessity for a manufacturing business. This type of protection provides broad coverage for premises, operations, completed operations and advertising and personal injury. It will also pay to defend any covered lawsuit or action regardless of its merit. Coverage can be purchased as a separate policy and can be tailored to your specific needs. Coverage limits generally range from $100,000 to $1,000,000.
Commercial Property Insurance
When a gas tank explosion causes an uncontrollable fire, your commercial property and everything within it can suffer a significant loss. This can have a detrimental effect on your manufacturing business.
Commercial property insurance can help protect the property your business owns or leases, including things like equipment, inventory, furniture and fixtures. Whether you own your building or lease your workspace, commercial property insurance can be purchased separately or can be combined with other necessary coverage to protect your business’ physical assets.
Business Interruption Insurance
What would you do if a fire impacted the operation of your production line and prevented you from serving clients for a day or more? Or what if a pipe leak caused a system outage or extended downtime, leaving your production line inoperable? These and other events can destroy your ability to serve clients and bring in revenue, which can have a major long-term impact on the viability of your business.
Business interruption insurance compensates you for lost income if your manufacturing facility cannot operate as normal due to damage that is covered under your commercial property insurance policy, such as fire or water damage. Business interruption insurance covers the revenue you would have earned, based on your financial records, had the incident not occurred. The policy also covers operating expenses, like electricity, that continue even though business activities have come to a temporary halt.
Product Recall Insurance
When a product you manufacture is found to be defective and causes bodily injury or property damage to others, you may be held financially liable. Product recalls can be involuntary (required by a regulatory agency or the government) or voluntary (the manufacturer notices a defect that is unlikely to force an involuntary recall), and can be costly.
Product recall insurance covers expenses associated with recalling a product from the market. Coverage can include customer notification costs, shipping costs and disposal costs. Coverage generally applies to the manufacturing business itself, though additional coverage can be purchased to cover the costs of third parties.
Workers’ Compensation and Employers Liability
If one of your employees receives an injury or becomes ill due to a work-related occurrence, you are required by law to have the proper coverage in place.
Workers’ compensation and employers liability insurance protects your employees should a job-related injury or sickness occur during the course of employment. Since benefits vary by state law, make sure your insurance agent is aware of all physical locations your business operates in and all physical locations where you hire your employees.
Business Auto Insurance
As a manufacturing business, you have many exposures associated with your business vehicles – owned or leased. With a fleet of cars, trucks, vans or other types of vehicles used in the course of business, a single accident can potentially put your business in financial jeopardy.
Business auto insurance provides coverage for vehicles owned or leased by your manufacturing business and provides coverage for bodily injury, property damage and other exposures, and could include comprehensive and collision coverage as well.
Commercial Umbrella / Excess Insurance Policy
Losses and lawsuits are quite common in the manufacturing business, and settlements can be substantial. If your business is found to be responsible for damage or injury, you could be facing a large liability loss that exceeds the basic limits of your standard policy.
You should consider purchasing a commercial umbrella insurance policy, which provides higher limits, typically between $2,000,000 and $10,000,000, and often broadened coverages. Coverage is extended over your general liability insurance, workers’ compensation and business auto insurance. It provides a great safety net and helps ensure your manufacturing business is well protected.
Motor Truck and Ocean Cargo Insurance
As a manufacturer, you’re constantly shipping your cargo around the world either by land, air or sea – exposing your business to risk as a result of product loss, theft or damage.
You can purchase ocean marine insurance for your products while your shipments of goods are in transit - by truck, rail, air, ship or boat - until they reach their final destination.