The rapidly growing microbrewery industry is gaining the tools to support itself almost as quickly.
Located in Westbrook, Maine, Acadia Insurance, a member of Greenwich-based W.R. Berkley Corp., is launching a new insurance program targeted to small and midsize brewery operations.
According to Acadia, the brewery segment is fast-growing throughout the Northeast, exceeding $1 billion in revenue in 2014. The company said the number of breweries and overall sales volume are projected to grow over the next three years. The Colorado-based Brewers Association reported craft brewers had 11 percent volume share of the marketplace last year, up from 7.8 percent in 2013.
Fairfield and Westchester counties are already home to several breweries, with more slated to open.
Acadia’s insurance program offers all major lines of coverage that a brewery operation would need, including property and equipment, general liability, worker”™s compensation, commercial auto and umbrella liability.
Acadia”™s Brewery Program also provides targeted specialty coverage for brewries, like tank collapse coverage, product recall expense coverage and privacy breach and cyber liability.
“We identified those potential insurance gaps and added special coverage options to our Brewery Program in order to help our agents create a targeted insurance portfolio that fits the unique needs of individual brewery operations,” David LeBlanc, chief underwriting officer at Acadia Insurance.
I believe there is some confusion here between Arcadia in Stamford (not insurance) and Greenwich-based WR Berkeley’s Acadia Insurance.