INSURANCE


CRAFTBUTCHER l NOVEMBER/DECEMBER 2018 11


CHRISTMAS IS COMING, THE COLD Christmas is a crucial time


of year for most butchers. Te majority of Christmas dinners will have a choice joint of meat or a bird as the centrepiece of course, but the days and weeks around the big day also represent a lucrative period for the trade. As ever, though, opportunity


brings heightened risks. Increased stock is clearly vital to meeting customer demand, but holding more meat and poultry on the premises can have serious consequences if something goes wrong – be it fire of flood, theſt, or even mechanical breakdown of cooling equipment. Clearly, the most immediate


issue would be loss of income, especially if the entire stock was spoiled or lost. It’s one of those heart stopping moments when it may feel like the end of the world, until you remember that is why you have insurance. Cover for stock is there to protect you against this kind of eventuality. However, at a time like


Christmas, a disaster affecting significantly increased stock could be compounded by a shortfall in your insurance cover. Tat is because not all


butchers insurance cover the same. Some will automatically cover seasonal stock increases, some won’t, so it is vital that


STORE’S GETTING FULL… you take the time now to make sure you have the right level and kind of cover in place. Take a few minutes to put


your insurance cover through these six tests: 1. Don’t confuse contents


and stock. Check that you have the right level of stock cover in place, and don’t assume straightforward contents cover is enough. If you don’t have enough stock cover in place, it is possible that any claim you make will only pay out a proportion of your total loss 2. Make sure your insurance


cover includes protection for increased stock. If your policy does not, then you could find yourself without proper cover should the worst happen at Christmas. 3. Ensure any automatic


increase will be in place when you need it. Most policies offer increased stock cover for a limited amount of time, so make sure yours kicks in when you need it, and covers the entire period when your stock levels are likely to be higher than normal 4. Check how much extra


cover is included as standard. Most policies offer increased cover as a percentage of your ‘business as usual’ stock levels, for instance a 25% increase. Take a look at your planned Christmas inventory and how it compares to your everyday


annual BDCI dinner, Te Brewery in the City of London, was a great hit, and full to capacity. Te drinks reception before the dinner was well attended with industry colleagues catching up with each other. Te main auction was lively


and with the usual financial support from the silent auction and the ever-popular heads and tails will have made a considerable contribution to


BDCI. Guest speaker Matt


stock levels, and check that any increased cover included in your policy will not leave you exposed. 5. Tink about goods in


transit. If you’re planning to move stock from location to location or offer a delivery service, make sure it’s covered when on the move. It’s called ‘Goods in Transit’ cover and, if present, will usually have its own section in your policy 6. Are you covered for failure


of cooling equipment? As a rule, frozen and refrigerated goods are not covered in standard business policies, so make sure you have this cover in place. Te covers you are likely to need are called ‘deterioration of stock or ‘food in freezer’ and are clearly very important for butchers. Tere is oſten a maintenance requirement for refrigeration units, and or, age restrictions. Clearly, it is very important


to check you have the right level of stock cover in place at Christmas – a time when disaster without cover could have more serious consequences than usual. So, if your cover fails any of


the tests above, speak to your insurance provider immediately – and if you need impartial professional advice, speak to us at Te National Federation of Meat and Food Traders Insurance Services.


BDCI FESTIVAL DINNER SELL OUT SUCCESS! Te new venue for the


Dawson, one of England’s most capped rugby players of all time and former England & British & Irish Lions Captain, was very entertaining regaling rugby stories and details of his brief foray into the meat industry, with his own branded sausages. Te band and dancing were ever popular and energetic - attendees danced until well beyond midnight. Tis year’s BDCI Festival


Chairman, Chris Aldersley, COO of Cranswick PLC said, “What a fantastic evening at the first BDCI Festival Dinner at Te Brewery, it was a great pleasure and honour to host the event as Festival Chairman.” Edward Hoefling, BDCI


Treasurer said, “Tis year’s BDCI Festival Dinner was an outstanding success, many thanks to Chris Aldersley for all his hard work and to all those who attended and


We understand the


complexities of insuring butchers and have specialist knowledge in the meat and food trading industry, which means we are ideally placed to offer expert advice on the type and level of insurance you need. In fact, if needs be, we can also help you secure the right cover, quickly and without fuss, and at the right price. So give us a call on 0330 134 4551 or visit www. smeinsurance.com/nfmſtis for more information. n


Tis is a marketing


communication Te National Federation of Meat


& Food Traders is an introducer appointed representative of Jelf Insurance Brokers Ltd. smei and Te National


Federation of Meat and Food Traders Insurance Services (NFMFTIS) are trading names of Jelf Insurance Brokers Ltd. Jelf Insurance Brokers Ltd is


authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number 0837227. Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX.


MEMBER BENEFIT


contributed so much in terms of time and money to make the evening such a success.” n


Chris Aldersley and Matt Dawson


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