California Wineries May Face Coverage Gaps, Co-Insurance Costs After Wildfire Damage

 Wednesday, October 18, 2017

 Reuters

Wineries damaged by wildfires tearing through Northern California are starting insurance claims, and at least some of the smaller vintners are likely to find limits in their policies mean payouts fall short of rebuilding costs. Gaps in coverage and a spike in rebuilding costs, typical after disaster, may come as a shock to many small wineries, favorites of Napa and Sonoma county tourists, said Tom Pagano, who heads the vineyard insurance practice for insurance broker Aon Plc. (AON.N) ”The easy part of insurance is buildings burning down,” Pagano said, describing the complicated claims process. Crops are covered, but not vines, and policies often impose quirky limits, such as when grapes spoil due to electrical failures instead of fires.
PropertyExcess & Surplus Lines
BROWSE RELATED NEWS ARTICLES
FIND SERVICE PROVIDERS
1,000,000+ COMPANY LISTINGS
CLM CALENDAR

CLM Portland Chapter Event

 Portland, OR  |  December 19th

CLM Oklahoma Chapter Event

 Oklahoma City, OK  |  January 14th

CLM San Diego Chapter Event

 San Diego, CA  |  January 23rd