Home: Message List - Type of Insurance For Wholesale Distributor?

Re: Type of Insurance For Wholesale Distributor?

mainstreetifs — Wed, 09 Jan 2008 03:00:33 GMT

mainstreetifs@yahoo.com

Re: Type of Insurance For Wholesale Distributor?

FlixInABox27 — Wed, 09 Jan 2008 02:05:57 GMT

Hi Mainstreetifs,

Thanks for you referrals. What is your contact information so i can get details of your GA contacts...

Re: Type of Insurance For Wholesale Distributor?

mainstreetifs — Sat, 22 Dec 2007 08:28:06 GMT

You definetly want general liability including products and completed operations coverage. You can also find GL coverage that includes cyber liability for your online sales exposure. I believe The Hartford, CNA, AIG and Chubb all provide this coverage for your industry. If you have employees you will need workers compensation insurance and I would suggest EPL (employment practices liability) because wrongful termination and sexual harassment claims are becoming common and are very expensive to litigate regardless of whether you win or lose. The coverage is pretty cheap for a small business.

E&O (errors and omissions) insurance is essentially mal practice insurance that is designed for those providing professional services, I am not sure it is necessary for your business. Another poster mentioned Cargo insurance but it would probably not be cost effective for your product, most people are better off self insuring anything coming from the middle east unless it is extremely valuable.

I own an insurance agency in Sacramento, CA but can write business nationally if you don't mind working through phone and fax. If you would like to work with somebody local, here is a list of the "best practices" insurance agencies in Georgia:

Blount Burke Wimberly & Hendricks Insurors,

Statesboro

J. Smith Lanier, West Point

Jim Anderson and Company, Lawrenceville

Little & Smith, Inc., Marietta

Prime Financial Services, Inc., Fayetteville

Sherrill & Company, Savannah

Siegel Insurance, Inc., Atlanta

Re: Type of Insurance For Wholesale Distributor?

CorpCons08 — Thu, 06 Dec 2007 16:15:39 GMT

I had come across a gentleman who was selling movies he was importing from China and he was fined because you are not allowed to bring in media from China. I believe the reason was because of the price difference.

Re: Type of Insurance For Wholesale Distributor?

FlixInABox27 — Thu, 06 Dec 2007 15:29:58 GMT

Yes this will be for the US market. We've been operating since 2004 and we had basic insurance coverage and it lapsed this year because we had disagreement on the renewal qoute given to us.

What do you mean by legal restriction to sell in the US? Could you be more specific please.

Re: Type of Insurance For Wholesale Distributor?

CorpCons08 — Thu, 06 Dec 2007 15:19:19 GMT

I have one major question on this venture of yours. Are you planning on selling these films in the United States? There are some regulations that forbid the sale of foreign media in the United States. Have you looked into this?

Re: Type of Insurance For Wholesale Distributor?

LUCKIEST — Thu, 06 Dec 2007 14:26:18 GMT

Tell us more. How long have you been in business??
Every business should have an Accountant, A Lawyer and an Insurance Agent.
Your insurance agent should know your business and have the right answers for your company.
I think we have had some posts from insurance brokers in GA and FLA.
Good luck, LUCKIEST

Re: Type of Insurance For Wholesale Distributor?

Lighthouse24 — Wed, 05 Dec 2007 22:04:25 GMT

Perhaps Cargo Insurance (i.e., an annual open policy designed for the frequent shipper/importer, as opposed to paying for coverage for each individual shipment or parcel)?

Type of Insurance For Wholesale Distributor?

FlixInABox27 — Wed, 05 Dec 2007 21:29:08 GMT

Our company is a wholesale/reseller of foreign media products (DVD-Films) to mainstream online market and wanted to know the applicable insurance coverage type for such business...Some people were suggesting a E&O and General Liability Insurance will be enough...Any other tips?

Also, do you know any good insurance broker you know in GA?