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Alexandre knows what he’s talking about. Not only is he an expert property and casualty insurance broker, he used to co-own a craft brewery. He combines both worlds these days by specializing in insurance for craft breweries, vineyards and other food supply chain companies. According to his clients, his expertise has everything going for it!
In 2017, you co-founded a craft brewery called Champ Libre and remained as a partner for two years. What did you learn from the experience?
Well, two partners and I started the brewery because we love beer and wanted to get involved in this rapidly developing field. Craft brewing is a truly exciting and creative industry that I love with a passion. In fact, I’d previously spent around 20 enjoyable years working with many clients in the industry. I love how there’s always so much more to learn about making craft beer.
How did you end up combining your two passions – brewing beer and selling damage insurance?
It all happened gradually and very naturally. My work as a broker satisfies my curiosity about people and the world of small business. This became even truer once I personally owned and operated a small business and discovered the joy of making beer. The craft brewing sector has now become the core of my insurance practice, but I also service vineyards and many other food production or food processing companies that experience the same kinds of realities as craft brewers do. Of course, any insurance broker worth their salt can eventually become familiar with any given industry. In my case, I I feel I generally avoid mistakes and oversights because I know craft brewing like the back of my hand.
As a specialist in insurance for small and medium-sized businesses (SMBs), what’s your best advice to someone who’s just launched a craft brewery?
It’s important to insure against operating losses. In this industry, it’s crucial to bounce back from production or financial setbacks caused by a disaster or equipment breakdown. Another serious risk is product contamination, not to mention product recall. It’s quite common for craft brewers to overlook these risks because they’re not the types of risks keen young brewers immediately think of.
How useful is damage insurance for SMBs? Is it worth it?
Savvy business people know the risks they face and are well aware they can’t afford not to be insured. However, they can sometimes overlook specific details in their insurance contracts – the kinds of details their broker can point out. For instance, many business operators forget that new equipment is also expensive to have shipped and then installed by specialized technicians. These costs need to be factored into the overall equipment insurance cost. Not only that, craft breweries need to insure their tasting room or licensed restaurant, if they have one. This type of protection is sometimes complex and often not clearly spelled out in standard insurance contracts.
You have a front-row seat in a constantly progressing industry driven by some pretty passionate people. Have you met anyone who’s really impressed you?
Some truly brilliant entrepreneurs are currently developing an ecosystem of suppliers to the craft brewing industry. I recently met a young man from the Beauce region of Quebec – he’s started a barrel rental service for craft breweries that’s been tremendously successful because it meets a real need. He also operates an ingenious mobile beer-canning service from a truck that moves around from brewery to brewery! I think he’s the greatest. In fact, one reason I do this job is to meet people like him!
Like Alexandre, every one of our commercial insurance brokers has unique expertise. Passionate people understand each other! Contact your broker for help with insuring your wildest projects!