Ho, Ho, Ho! Insure Your Way To Christmas

With December finally here, most people are gearing up for holiday merrymaking. Here are a few risk areas to consider over the festive period:

Prawns, prawns and more prawns



Better not celebrate Christmas if there aren’t going to be prawns on the table! Seafood is particularly popular at this time of year with shrimp farmers fishing out fresh and highly graded prawns for families to consume. Earlier this year, an outbreak among the crustacean family affected the aquaculture industry. Called the white spot disease, the virus infected most of the shrimp ponds leading to a decrease in the number of seafood produce. Farmers blamed importers for the spread of the disease because of the chemicals used in rearing prawns, leading to a ban against foreign vendors. The only silver lining amidst all this was that the disease had no effect on those who consume infected prawns. 
Such circumstances are no stranger to the food industry. Aquaculture farmers and retailers must always be wary of these cases as they can have a significant impact on their business and consumers. Cover against Business Interruption is handy protection for when things go bad – a loss in productivity can only mean a loss in profits. Most cultivators don’t have enough funds or the government isn't able to provide enough compensation for aborted operations. It’s better to be equipped with resources, whether financial or otherwise, to build a business up again. A Product Liability policy can also be helpful for retailer clients if the disease carried by shrimps pose a threat to general consumers. 

A tropical basket of mangoes and cherries



Mangoes are one of the most prominent fixtures on the Christmas table, with cherries on top – quite literally. These sweet and tangy crops spark cheer when served in many different ways: as fresh fruits in a bowl, a nice accompaniment to any cocktail, an unexpected punch of sweet to any salad or presented in various dessert forms. Often sold on stalls by fruit vendors and/or farmers, they don’t necessarily think that their small business needs to be protected from risks. If you have clients in this line of business, better to remind them of the losses they might incur during the holidays when there’s an increased demand for goods and an influx of consumer interaction. Product Liability and Product Recall are what your clients need.

The ultimate festive spirit – booze



Pubs and bars get notoriously busy over the festive season. However there are always those customers who exceed their alcohol limits and wreak havoc with other merrymakers and partygoers. We all know that the one responsible for any damage is the owner of the establishment. For your clients in this line of business, advise them to read up on their Liquor Liability and Public Liability coverages for them to review what is and isn’t covered by their policies. 

Backyard fun


 
It’s common for families to get together and spend some quality time by playing games like cricket or having water fights. As fun as it can be, there’s no denying that during such festivities accidents occur, leading to incidents of  Property Damage, or worse, Bodily Injury. Should the worst happen, it’s always best to remind your clients about their safety and suggest reading up on their Home Insurance cover. It’s best to advise them to scan their policy wordings so that they know what is included when claiming back their losses. 

Don’t let an accident spoilt your client’s Christmas. Log-in to Insurr to see the wide number of specialty risks that can be covered easily.  


Other pages of interest:

Homeowners urged to celebrate Christmas safely by Insurance Business Australia on November 30, 2017

Far Out Friday: Brokers predict Santa’s insurance costs by Insurance Business Australia on December 9, 2016

5 Reasons To Review Your Business Insurance This Christmas by BizCover