Food Industry Insurance
Specialty food items generate more than twice the return on inventory investment for retailers compared to conventional products, with 50.1% ROI versus 19.8% for non-specialty items. This higher value creates unique risks that standard shipping insurance simply cannot address. From artisanal cheeses and premium wines to exotic spices and organic produce, specialty foods face challenges…
Read More
Food fraud costs the global food industry an estimated $40-50 billion annually, with importers and exporters bearing significant financial risks. Recent data shows almost a 10% increase in food fraud incidents in 2024, highlighting the growing threat to supply chain integrity. The complex supply chains involved in international food trade create multiple vulnerability points where…
Read More
In today’s interconnected global marketplace, exchange rate volatility represents one of the most significant financial risks facing export businesses. For companies based in New York and across the United States, currency fluctuations can transform profitable international deals into devastating losses overnight, making effective exchange rate management not just advisable—but essential for sustainable export success. Exchange…
Read More
In the food and beverage industry, a recall can happen in an instant—and the consequences can be devastating. Even the most careful companies, with rigorous quality control procedures, can face the unexpected: a labeling error, contamination, or packaging mishap that forces products off shelves. While the immediate thought is often about the product itself, the…
Read More
The journey of food from farm to table involves an intricate food distribution chain of producers, processors, distributors, retailers, and logistics providers. This complex food distribution chain faces countless risks at every stage, from natural disasters destroying crops to contamination events that can trigger massive recalls. Insurance serves as the critical safety net that keeps…
Read More
Recent tariff escalations have created immediate operational challenges that go far beyond simple cost increases. For businesses managing international supply chains, the real impact hits where it hurts most: customs bond requirements, inventory valuation fluctuations, and warehouse risk exposure. Customs Bond Pressure Points Surety Capacity Constraints When tariffs spike, your customs bond requirements can double…
Read More
When shipping goods across international borders, it’s critical to understand the role of Incoterms and insurance responsibilities. These internationally recognized trade terms define the responsibilities of buyers and sellers. This includes who arranges shipping, who pays for what, and who holds liability during different stages of the shipping process. If you’re involved in importing, exporting,…
Read More
Protecting Your Cargo: Why Freight Forwarder Insurance May Not Be Enough In today’s global supply chain, freight forwarders and logistics providers are essential in getting goods from origin to destination. Yet while these partners manage the movement of your cargo, the responsibility for financial loss or damage may still fall on you—unless the proper insurance…
Read More
Marine cargo insurance has long been the backbone of global trade, protecting goods as they move across oceans and continents. While the industry has traditionally relied on established underwriting practices and historical data, emerging technologies are beginning to show promise for transforming how we assess risk and handle claims. At Coughlin Insurance Services, we’re keeping…
Read More
When it comes to maritime shipping, one of the most critical—and often misunderstood—concepts is General Average (GA). Whether you’re a first-time shipper or an experienced logistics professional, understanding General Average and its impact on your cargo insurance costs is crucial for protecting your business. In this article, you’ll learn how General Average works, how it…
Read More