Issue
4 Hands Brewing Company is the largest craft brewery in the St. Louis area and planned to expand its offerings with the launch of a Cannabis-based product. However, the Company’s insurance broker was not engaged in discussions surrounding these plans, ultimately jeopardizing the launch. In addition, the Company’s provider failed to pursue an opportunity to significantly reduce a $350,000 claim result against the Company’s workers’ compensation carrier.
Solution
CBIZ defined a client engagement plan to help ensure 4 Hands Brewing Company’s insurance and management process development needs were met. By scheduling regular discussions with 4 Hands Brewing Company, CBIZ remains up-to-speed concerning the Company’s business plans and able to provide the brokerage services necessary to support key goals and growth strategies.
Outcome
Working with 4 Hands Brewing Company, CBIZ has designed and implemented best practices to facilitate effective communication and seamless service. By delivering a high level of broker advocacy, the Company is now able to benefit from the proactive monitoring of claims and has established claims handling performance standards. In addition, 4 Hands Brewing has engaged CBIZ across multiple additional service lines, enabling the Firm to deliver additional benefits that further support the Company’s ongoing growth.
| Company Information | |
|---|---|
| Industry | Food & Beverage |
| Entity Type | Brewery |
| Annual Revenue | $11M |
| Number of Employees | 55 |
© Copyright CBIZ, Inc. All rights reserved. Use of the material contained herein without the express written consent of the firms is prohibited by law. This publication is distributed with the understanding that CBIZ is not rendering legal, accounting or other professional advice. The reader is advised to contact a tax professional prior to taking any action based upon this information. CBIZ assumes no liability whatsoever in connection with the use of this information and assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein. Material contained in this publication is informational and promotional in nature and not intended to be specific financial, tax or consulting advice. Readers are advised to seek professional consultation regarding circumstances affecting their organization.
“CBIZ” is the brand name under which CBIZ CPAs P.C. and CBIZ, Inc. and its subsidiaries, including CBIZ Advisors, LLC, provide professional services. CBIZ CPAs P.C. and CBIZ, Inc. (and its subsidiaries) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. CBIZ CPAs P.C. is a licensed independent CPA firm that provides attest services to its clients. CBIZ, Inc. and its subsidiary entities provide tax, advisory, and consulting services to their clients. CBIZ, Inc. and its subsidiary entities are not licensed CPA firms and, therefore, cannot provide attest services.
