In fact, that is a very low exposure for wineries. The people who run wineries are very professional. They don't want people who visit to come in just to get free drinks and get drunk. Instead, they want visitors who are genuinely interested in wine. Unlike other forms of manufacturing, in the winery business when stock is lost or damaged, the product cannot be reproduced.
Wines age several years with the wineries depending upon the inventory for future profits.
If loss occurs either in the vineyard or in the winery, we're not just talking about the loss of the product itself. We're talking about future profits that are lost. That's why it's essential to agree upon a value when writing the policy. The first step in the risk management process is to identify the various exposures a winery faces. To accomplish this, Kempkey developed special software they nicknamed WRAP, which stands for Winery Risk Assessment Program.