Vineyard Insurance, Winery & Wine Claims Solutions

Our North American Cargo team assists wineries, wine brokers, importers and exporters. We have developed highly specialized products and insurance placements that help manage your insurance that is moulded to your business and changing needs.

As specialist brokers that place over USD 2.9 billion into the market JLT have the leverage to secure the best deals and products for our clients. Using our knowledge of the industry, the perils and risks associated, we design highly flexible policies combined with a depth of claims advocacy and experience that are critical when the need arises.

We have dealt with many wine claims that vary from transit losses to inventory and our experience also reaches beyond wine and into all kinds of spirits. We have vast experience in this field and an understanding of our clients’ needs when it comes to valuation of products that are, for example, in an ageing process.

Our claims personnel are always involved in the technical development of a policy during the quote stage to ensure it meets the client’s expectations in the event of a claim occurring.

WHAT WE DO

Vineyard and winery what we do

Our wine stock throughput policy provides coverage for wine inventory exposures together with domestic and marine transportation.

Specifically designed for vineyard owners, manufacturers, importers, exporters, distributors, wholesalers and retailers, this policy aims to shift coverage from your property policy into a marine cargo stock throughput policy.

Vineyard and winery what we do

Our cargo experts are leaders in the international market and provide specialist program design and transactional services to a broad spectrum of industries around the world by combining in-depth sector expertise with innovative claims solutions.

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FAQs

Our wine stock throughput policy provides cover for your import cargo (corks/labels/packaging/bottles/casks), inventory (wine in bottle/case and bulk wine), including raw stock/materials, work in progress, and finished product, as well as outward distribution to anywhere in the world.

Providing ‘All Risks’ coverage, including war risks (while waterborne/airborne), strikes, riots, civil commotions and malicious damage risks, terrorism (during the course of transit) and bespoke cover tailored to your needs, which may not be covered under your property program, such as:

  • Contamination (the introduction into wines of substances, microorganisms, chemicals, toxic substances, wastes or waste water in a concentration that makes the wine unfit for sale as intended), infestation and change in temperature
  • Leakage from tanks or barrels and their component parts
  • Employee error

SIGNIFICANT COST SAVINGS The marine market combines transit and stock which can be more competitive than separate traditional cargo and property placements.

CAPACITY FOR CATASTROPHE PERILS Such as windstorm, flood and earthquake shock, where little may be available in the property market.

REDUCTIONS IN DEDUCTIBLES Where the property deductible operates on a percentage of values basis, by removing the stock values.

POLICY ENHANCEMENT Selling price on finished goods reducing the need for business interruption coverage within the property program.

AVERAGE MONTHLY INVENTORY VALUES The marine market will rate on average inventory values exposed rather than maximum values.

LIMITS The marine market will offer per conveyance and/ or location and potentially non-aggregated.

LOCATIONS Bottling plants, blending buildings, tank storage and barrel/cask houses can be expressly considered as separate locations.

PROFIT COMMISSION Insurers will reward vineyard owners for good loss record.

BESPOKE WORDING To suit your specific needs.

WHY JLT 

  • We have dealt with approximately 25 wine claims over the last two years, varying from transit losses to inventory. Our experience reaches beyond wine and into all kinds of spirits.
  • We have vast experience in this field and an understanding of our clients’ needs when it comes to valuation of products that are, for example, in an ageing process.
  • Our claims personnel are always involved in the technical development of a policy during the quote stage to ensure it meets the client’s expectations in the event of a claim occurring.
  • We are proud that many clients have chosen to appoint us as their broker of choice. To build these relationships we invest time getting to know you and your insurance needs.
  • With a strong personal duty of care and an acute sense of accountability we will make ourselves available to you, always. We are much more than just a service provider, we are an extension of your business.

Case Studies

Vineyard Case study

Forklift truck damages storage tank

A forklift truck damaged a storage tank and there was a nasty wine spill. Our account managers happened to be in the area at the time and were able to meet with the loss adjuster to discuss the loss and strategize the handling of the claim.

On that same day our London colleagues confirmed their appointment with London reinsurers due to the claims control clause and the investigation began within 24 hours of notification. The loss was collected from the market and paid shortly thereafter.

Vineyard Case study

Temperature variation loss

During a polar vortex in the USA, a temperature variation loss occurred. The damage varied from no visual damage at all, to popped corks and broken bottles. Working closely with the London insurers and the loss adjuster, the loss was paid swiftly.

This was a remarkable achievement given the level and breadth of the loss. Many shipments across the US were affected, but thanks to our one event deductible wording, and insurers agreeing that the polar vortex was a single event, the claim was paid net of only one deductible.

PROUD SUPPORTER

Wine Country Ontario
JLT Canada is proud to support the Wine Council of Ontario and its members as an approved trade supplier.


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