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Episode 37: Will Totten and Russ Taylor • Secure CPG
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In episode thirty-seven, Accountfully's CEO and Partner, Brad Ebenhoeh, talks with Will Totten and Russ Taylor of Secure CPG. Learn how Secure CPG is replacing the antiquated insurance of yesteryear with modern solutions built to support today’s CPG brands. Together Will and Russ share real-world examples of how their coverage options can help companies mitigate cash-killing scenarios classic insurance may not even cover. If you are still unsure about what coverage you need and the basic practices that reduce risk proactively, this episode is for you!
For more small business and CPG- focused resources, visit Accountfully's resources page, where you will find helpful articles, guides, eBooks and more.
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Chapters
1. Intro to Secure CPG, Will and Russ (00:00:54)
2. Common areas that CPG companies should cover (00:03:58)
3. Best practices with a co-manufacturer: get a COI (00:06:06)
4. Coverage to think about when sourcing raw goods from vendors (00:09:46)
5. How to manage coverage with a 3PL and when your inventory is and is not covered based on who owns it (00:12:17)
6. Recall insurance and things to understand from a coverage standpoint (00:15:19)
7. What should in-house manufacturers be aware of on the risk front? (00:16:12)
8. How does the insurance company cover based on the value of the inventory itself? (00:18:43)
9. How fundraising or investors may change coverage needs (00:20:52)
10. What about venture debt or companies that have debt/loans out there? What is required? (00:22:31)
11. Cyber risk–what should be covered, costs, needs, etc. (00:24:00)
12. The cost of cyber risk coverage (00:26:10)
13. Why brands need to think about ADA compliance on their website, and employment practices liability (EPLI) (00:27:24)
14. Will's CPG "do" as it pertains to insurance/coverage (00:30:58)
15. Russ's CPG "don't" (00:31:36)
16. Where to find more info and contact Will or Russ (00:32:46)
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