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The Startup CPG Podcast

#102 Beyond the Certificate: How to Navigate Insurance Related to Fundraising and Inventory with Amelia Risk

The Startup CPG Podcast

Startup CPG

Startup, Food, Business, Beverage, Cpg, Entrepreneurship

4.9 • 642 Ratings

🗓️ 8 August 2023

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

I don’t always love talking about insurance, but I love talking about insurance with today’s guest, Danielle Holyoake, because I always learn so much and end up feeling more empowered with knowledge. Danielle, is the CRO and co-founder of Amelia Risk, a CPG insurance brokerage equipped to handle all lines of commercial insurance, and I actually met Danielle through the Startup CPG Slack back in 2021 when she helped me with an urgent insurance issue. Last year, in 2022, Danielle came on the show for a CPG insurance 101 level episode of Let's Demystify Insurance - How to navigate insurance in CPG, which is linked in the show notes and may be helpful to listen to before or after this episode, as it’s packed with really great information about general liability, product liability, recall, and worker’s comp insurance. Today we continue with our 100 level CPG insurance knowledge by focusing in on two areas of insurance that often get overlooked, but become super important as a CPG company scales: D&O or Directors & Officers insurance and stock throughput insurance, which come into play around conversations about fundraising and inventory respectively.

This episode was sponsored by Amelia Risk.


Listen in as Danielle shares about:

  • Why D&O insurance comes up during fundraising and why it’s often a requirement of investors
  • When to start thinking about D&O insurance and what it covers
  • Why stock throughput insurance is important and surprising areas where your inventory may be unprotected
  • How inventory is covered from an insurance perspective during freight transit, at 3PL warehouses, and why you might need insurance to protect it
  • Examples of insurance claim and inventory loss scenarios when insurance can and cannot help, including spoilage, and temperature control issues
  • How to find the right insurance broker and why choosing a broker before shopping for policies is important
  • And more!

Get your ticket to the Expo East Mic Drop party for a chance to win a spot on the podcast: https://tinyurl.com/4nafz284

This episode was sponsored by Kickfurther. Go to https://www.kickfurther.com/startupcpg
This episode was sponsored by Graphite Financial. Go to graphitefinancial.com/cpg

Episode Links:

Mic Drop Party at Expo East Giveaway:

  • Enter the giveaway to win a spot on this podcast and The Dish by buying your ticket to the Mic Drop party in Philadelphia on September 21, 2023 here
  • Note: Giveaway only available to CPG brands and must be present at party in-person to win. If you already bought a ticket, you’ve automatically been entered!

Kickfurther Links:

  • Kickfurther website
  • See how much inventory funding you qualify here

Graphite Financial Links:

  • Graphite Financial website
  • Download a free financial model template, chart of accounts template, and more here
  • Listen to our episode with Graphite founder, Paul Bianco, episode #96 here.

Show Links:

Transcript

Click on a timestamp to play from that location

0:00.0

You need to pay for tomorrow's growth, but today's cash flow just doesn't quite cover it.

0:04.9

So what do you do when you need inventory funding now?

0:08.3

Welcome to Kickfurther.

0:10.0

Kickfurther funds up to 100% of the cost of inventory up front, and you don't have to pay

0:15.5

them back until that inventory begins to sell.

0:18.8

Kick Further funding is not alone, doesn't appear as debt on your books,

0:22.8

and does not require equity. It's just capital right at the moment you need it to pay your most

0:28.3

expensive cost, your inventory. Kickfurther has already supported over 1,000 opportunities,

0:34.6

including working for brands that you may know like Dr. Squatch and Goodwipes.

0:38.9

To see how much inventory funding you qualify for today, go to kickfurther.com slash startup

0:45.9

C-B-G.

0:47.0

That's kick-further, K-I-C-K-F-R-T-H-E-R dot com slash start-of-C-P-G, kickfither.com slash start-of-CPG to learn more.

1:00.1

Hey, listeners, would you like the chance to be featured on this podcast and on Start of

1:04.4

CPG's live LinkedIn show, The Dish? If you buy a ticket for our mic drop party at Expo

1:10.5

East by August 31st, you'll

1:12.9

automatically be entered for a chance to win a spot on both shows. The DISH is our conversational

1:18.9

LinkedIn live show hosted by Jenna Mopsvitz and I'll join as well for a special episode

1:23.7

that will be featured on this podcast across all podcast players. The mic drop party is the

1:29.0

evening of Thursday, September 21st during Expo East in Philadelphia. During the party, we'll be

1:34.3

featuring backpack brands and some of the incredible party guests signed up so far include

1:38.5

retailers like Kroger, Whole Foods, Bristol Farms, media companies, and VCs. It's a karaoke venue, so get ready to sing

1:46.6

or just come to network and sample the backpack brands, which will be announced in Slack.

...

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