Let's Demystify Insurance - How to navigate insurance in CPG

The Startup CPG Podcast · 7 Feb 2022 · 55m · Episode 11

What this episode covers

Danielle Holyoake, COO and co-founder of Amelia Risk, explains the critical insurance requirements for CPG brands, emphasizing that product liability is the foundational policy while clarifying that recall and umbrella policies serve distinct, specific functions. She details the broker's role as a brand advocate who negotiates coverage and limits, helping founders navigate complex retailer requirements and avoid gaps in protection. The discussion covers the nuances of workers' compensation, D&O insurance for venture-backed companies, and the importance of choosing a specialized broker who understands the CPG landscape.

Other shows on the same ground, closest first.

  • Making It · 1h 05m

    Episode 171: Ant Insurance

    Jimmy Diresta, Bob Clagett, and David Picciuto discuss the practical and legal challenges of running a maker business, with a deep dive into liability insurance. Jimmy details his experience securing business insurance for a RAM truck sponsorship and realizing his homeowner's policy didn't cover his workshop activities. David shares his struggles with production companies requiring liability coverage for TV shoots and his strategies for managing risk with movers and waivers. Bob discusses the necessity of worker's compensation after hiring an employee and the importance of product liability insurance as his company, I Make Limited, scales.

  • Global Medical Device Podcast · 34m

    Managing Business Risk as a Medical Device Company

    Michael Cremeans, Life Sciences Industry Practice Leader at Hylant, joins host Jon Speer to discuss how medical device companies can manage enterprise business risk beyond just product safety. They cover the importance of engaging insurance experts early to navigate complex contractual liabilities, such as those found in term sheets and group purchasing organization agreements, and how robust quality systems like those in Greenlight Guru can improve insurance outcomes. Cremeans emphasizes that companies should not treat insurance as an afterthought but rather integrate risk management into their overall business strategy to protect against financial and legal damages.

  • People of Packaging · 32m

    290 - Taylor Foxman is the master connector for CPG's!

    Taylor Foxman, founder of The Industry Collective, explains her unique business model of connecting 80 beverage and cannabis CEOs with investors, media, and partners without traditional marketing or a public-facing persona. She details her background in PR for brands like Jameson and Beyond Meat, and how she leverages this network to help underrepresented founders navigate fundraising and brand visibility. Foxman emphasizes the importance of creating 'good news' through consistent press releases and maintaining levity to support founders through the high-pressure CPG landscape.

  • The Manufacturing Executive · 28m

    Not By Accident: Risk Management for Manufacturing Executives w/ Van Carlson

    Van Carlson, founder and CEO of Strategic Risk Alternatives, discusses risk management strategies for manufacturing executives, focusing on the shift from traditional insurance to self-insurance mechanisms like the Section 831(b) tax code. He explains how manufacturers can mitigate rising premiums and coverage gaps by building reserves for unfunded risks such as supply chain disruptions, product recalls, and business interruption. Carlson emphasizes that these tools allow business owners to defer taxes and create a 'war chest' to handle claims without impacting operating cash flow, a practice increasingly vital in the post-pandemic economic landscape.

  • How I Built This · 48m

    Advice Line with Pete Maldonado and Rashid Ali of Chomps

    Pete Maldonado and Rashid Ali, co-founders of the meat stick brand Chomps, discuss the 'proteinification' of the food industry and how a recent, costly product recall reinforced their commitment to consumer safety. They advise Yari Dariz of Yadi Artisanal Empanadas on scaling strategies, suggesting a commissary model and delivery to manage seasonality, and counsel Zachary of Noble Pies on proving velocity and incrementality to break into big-box retailers like Whole Foods. Finally, they guide Josh Shrinko of Achigan on when to transition his smallmouth bass lifestyle brand from part-time to full-time, emphasizing focus on high-margin product lines like lures.

The summary, chapters and topics are generated from the episode’s audio by this directory, not written by The Startup CPG Podcast. The episode itself belongs to its publisher.