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Home / Services / Risk Management Consulting / Wholesalers & Distributors Insurance

Wholesalers & Distributors Insurance

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wholesale-distribution

Wholesalers & Distributors Insurance Program:

Lower rates, predictable loss results, top rated carriers

The Wholesalers and Distributors Insurance Program from Chernoff Diamond uses an unbundled approach to identify the best underwriters, claim managers, and loss control providers to create an effective and efficient wholesaler and distributor risk management program.

WHOLESALER AND DISTRIBUTOR LIABILITY COVERAGE; A Change from the Traditional Insurance Program Design

  • Although the standard insurance carriers view distributors as desirable risks, their plans don’t include special rates or coverage
  • Careful underwriting review allows only qualified wholesale businesses to join the program resulting in lower rates for all
  • A group of similar businesses produces more predictable loss results leading to more stable year-over-year insurance rates and liability coverage pricing for wholesalers and distributors
  • Tailored loss control services
  • Top rated insurance carriers

ADDITIONAL LOSS CONTROL SERVICES

  • Workers compensation audits to uncover rating and experience modification calculation errors
  • Review of distribution agreements, bills of lading, sales representative and licensing agreements by experienced attorneys
  • Outsourced human resources services to manage compliance and employment practices loss control

BROAD COVERAGE ACROSS ALL LINES OF COVERAGE
Property Insurance

  • Single property coverage policy limit for buildings and contents for multiple locations
  • Possibility of co-insurance penalties for property losses is eliminated
  • Loss of income coverage for occupied locations and extended to supply chain operations

Casualty Insurance

  • Contractual liability and vendors coverage included
  • Product recall available
  • Importers eligible
  • Reduced rates for drop shipped sales
  • Umbrella limits up to $50,000,000
  • Discounted and loss sensitive workers’ compensation programs
  • Discounted and experience rating available for large auto fleets

Transit and Marine Insurance

  • Motor Truck Cargo and Terminal liability coverage available

Management Liability Coverage

  • Directors & Officers (D&O) Liability Coverage
  • Employment Practices Liability Coverage
  • Loss Discovered Coverage for Employee Dishonesty
  • Fiduciary Liability Coverage

I HAVE ADDITIONAL QUESTIONS; WHERE CAN I GET MORE INFORMATION?

To learn more about the Wholesalers & Distributors Insurance Program, please visit our Wholesalers & Distributors Insurance Program FAQs page. You may also contact one of our Risk Advisors today at 516-683-6100.

Durable and Non-Durable Goods – Eligible Classes
SIC Codes
DURABLE GOODS
SIC Codes
DESCRIPTION NON-DURABLE GOODS
SIC Codes
DESCRIPTION
5013 Motor Vehicle Supplies and New Parts 5111 Printing and Writing Paper
5014 Tires and Tubes – New 5112 Stationery and Office Supplies
5021 Furniture 5113 Industrial and Personal Service Paper
5023 Home Furnishings 5122 Cosmetics / Perfumes (No Pharmaceuticals)
5033 Roofing Siding and Insulation 5131 Textiles, Piece Goods, and Notions
5039 Construction Materials 5136 Men’s and Boys’ Clothing
5043 Photographic Equipment and Supplies 5137 Women’s and Children’s Clothing
5044 Office Equipment 5139 Footwear
5045 Computers, Peripherals, and Software 5142 Packaged Frozen Goods
5046 Commercial Equipment 5144 Poultry and Poultry Products
5047 Medical & Hospital Equipment 5146 Fish and Seafood
5048 Ophthalmic Goods 5147 Meats and Meat Products
5049 Professional Equipment 5148 Fresh Fruits and Vegetables
5051 Metal Service Centers and Products 5149 Groceries and Related Products
5063 Electrical Apparatus and Equipment 5162 Plastics Materials and Basic Shapes
5064 Electrical Appliances, Television & Radio 5172 Petroleum Products and Equipment
5065 Electronic Parts and Equipment 5181 Beer and Ale
5072 Hardware 5182 Wine and Distilled Beverages
5074 Plumbing and Hydronic Heating Supplies 5192 Books, Periodicals, and Newspapers
5075 Warm Air Heating and Air Conditioning 5198 Paints, Varnishes, and Supplies
5078 Refrigeration Equipment and Supplies 5199 Non-Durable Goods NEC
5082 Construction Machinery
5083 Farm Machinery
5084 Industrial Machinery and Equipment
5085 Industrial Supplies
5087 Service Establishment Equipment
5088 Transportation Equipment & Supplies
5091 Sporting & Recreational Goods
5092 Toys, Hobby Goods & Supplies
5099 Durable Goods NEC

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PRACTICE LEADERS
Aronson_Michael_SM MICHAEL A. ARONSON
Kimberly_Cheung_SM KIMBERLY CHEUNG

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Phone: 516-683-6100
Fax: 516-683-6163
725 RXR Plaza – East Tower
Uniondale, New York 11556
725 RXR Plaza – East Tower
Uniondale, New York 11556
Phone: 516-683-6100
Fax: 516-683-6163
2618197.1

725 RXR Plaza - East Tower
Uniondale, New York 11556
516-683-6100


Chernoff Diamond © 2021 All Rights Reserved

Chernoff Diamond and their registered representatives are currently licensed to sell variable life and annuity products, as well as other securities products, in the states of California (#0782382, #0A04009), Connecticut, Florida, Georgia, Kentucky, Maryland, Massachusetts, New Jersey, New York, North Carolina, South Carolina and Virginia (#3078822.1). Residents of other states should consult with a local registered representative for securities products.

Proper state registration is mandatory prior to conducting business in any state.

Securities offered through M Holdings Securities, Inc., A Registered Broker/Dealer, Member FINRA / SIPC. Check the background of this Firm and/or investment professional on FINRA's BrokerCheck. Chernoff Diamond is a division of USI and is independently owned and operated. Chernoff Diamond is a member of the M Financial Group. Please visit mfin.com/DisclosureStatement.htm for further details involving this relationship. For important information related to M Securities, refer to the M Securities’ Client Relationship Summary (Form CRS) by navigating to https://mfin.com/m-securities. 3078822.1

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