Food Industry Insurance
Stock throughput insurance is a type of insurance that covers the goods (or stock) of a business throughout the whole supply chain, from point of origin to final destination. This typically includes coverage while the goods are in transit (by air, sea, or land), in storage, and even during processing or manufacturing, thus maximizing the…
Read MoreAt the core of successful global food distribution is the effective transportation of goods from their origin to destination. Marine Cargo Insurance is critical in this process, offering comprehensive coverage for goods in transit across sea, air, and land routes. This insurance is tailored to address potential risks such as infestation, piracy, and weather-related challenges,…
Read MoreAs a food distributor, importer, or exporter, you are not only handling perishable goods but also navigating an intricate web of international laws, trade agreements, and financial transactions. One misstep, like an insolvency event or a buyer default, can have severe consequences for your business. Here’s where Trade Credit Insurance (TCI) for Food Distributors enters…
Read MoreTrade credit insurance for Food Distributors is a type of insurance that protects businesses from losses due to non-payment by their customers. It is especially valuable for businesses with international customers and businesses operating in the import/export industry. In this article we’ll explore the ins and outs of trade credit insurance and why it’s more…
Read MoreThe number of food recalls exploded in 2022. The total number of “units” recalled under the authority of the FDA increased by 700 percent in 2022 compared to 2021, according to a recently released report. In fact, the Food and Drug Administration (FDA) and the USDA’s Food Safety and Inspection Service (FSIS) report there were…
Read MoreExporting food products to the European Union can be a lucrative opportunity for food exporters, but it also comes with its own unique set of challenges. One of the biggest hurdles that exporters face is complying with the stringent EU pesticide residue requirements. With maximum residue limits (MRLs) that are often lower than those in…
Read MoreWe all know that recalls can be extremely costly activities but they are a critical element of the product supply business, and the final line of defense to keep consumers safe. That’s why a reputable food liability insurance program is a must. Manufacturers are under extreme pressures unlike anything we have seen in recent times; factors…
Read MoreEvery food and beverage company plans to fulfill its contractual obligations on time. But what happens if mitigating circumstances lead to a breach of contract? There are many reasons why a food company might not fulfill its contractual obligations, including natural disasters, supply chain issues, or government sanctions. To protect your company against potential litigation,…
Read MoreNearly 1 in 5 businesses goes out of business yearly due to the impact of delinquent accounts. This is the reason why Trade Credit Insurance is such a critical component of your risk management strategies. By insuring some or all of your trading partners’ payments, you guarantee that you will receive that money, whether it’s…
Read MoreFood and beverage wholesalers face unique risks when running their businesses due to buying, selling, and storing food products in bulk. These risks include theft, damage from natural disasters, and even lawsuits. Having the right insurance policies is essential when disaster strikes. If your food or beverage wholesale business owns or operates any vehicles, your…
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