With a history dating back to the Colonial Era, America's craft brewers and brewpubs have earned an iconic position as one of the nation's quintessential - and earliest - categories of independent business. For a period nearly as long, The Hartford Financial Services Group, Inc., (NYSE: HIG), one of the nation's largest diversified financial services companies, has offered American businesses superior solutions to help protect and grow their enterprise. In a new partnership announced today, The Hartford and Whalen Insurance Agency of Northampton, Mass. will offer microbreweries and brewpubs access to a full suite of business insurance solutions that address their unique business needs.
Craft beer, which accounts for about 4 percent of the U.S. beer market, is usually associated with independent local or regional breweries that produce small batches of specialty and traditional beers. They often offer flavors and packaging that set them apart from the mass-produced products made by brewing industry giants. Specifically designed for breweries and brewpubs that make their own beer - but may also have both restaurant and manufacturing operations - the comprehensive program of coverage includes property, general liability, liquor liability, workers' compensation, and equipment breakdown.
"We want to be craft brewers' top choice for their insurance protection," said Deborah Bibbins, vice president for Captive & Specialty Programs. "We'll be working closely with the Whalen Insurance Agency to offer brewers and brewpubs comprehensive insurance coverage tailored to their size and scope - whether they are a local restaurant/brewpub or a multi-state distributor - so they can focus on what they do best, brewing specialty beers for beer enthusiasts."
"We're pleased to be aligned with The Hartford to offer comprehensive insurance customized to the specific needs of the craft beer industry," said Peter Whalen, president of the Whalen Insurance Agency, which has been writing craft brewery business for over twenty years. "The Hartford's reputation for quality, financial strength and stability makes it a perfect insurance partner, particularly for breweries and brewpubs with complex exposures."
"Whalen's experience and expertise in this market positions them as a knowledgeable program administrator," notes Bibbins. "Agents have the opportunity to work with Whalen to access this program for their breweries, which will be underwritten by The Hartford."
For more information on The Hartford's Craft Brewery program, contact the program administrator, Whalen Insurance Agency, 71 King Street, Northampton, MA 01060, at 1-800-235-0355 or visit their Web site at www.whaleninsurance.com/brewery.
Brokers and agents can also contact Peter Whalen directly via e-mail at peter@whaleninsurance.com.
About The Hartford
The Hartford, a Fortune 100 company, is one of the nation's largest diversified financial services companies, with 2007 revenues of $25.9 billion. The Hartford is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, the United Kingdom, Canada, Brazil and Ireland. The Hartford's Internet address is www.thehartford.com.
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Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2007 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.