Food Industry Insurance

A piece of a globe conveys the international aspect of trade credit insurance

Trade Credit Insurance: Coverage is Especially Important Right Now

By Insurance News Editor / May 5, 2023 / Comments Off on Trade Credit Insurance: Coverage is Especially Important Right Now

Trade 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 More

Top Food Recalls: Impact on Companies & Industry Insights

By Insurance News Editor / April 11, 2023 /

The 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 More

Navigating the EU’s Pesticide Residue Requirements: A Guide for Food Exporters

By Insurance News Editor / March 16, 2023 /

Exporting 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 More

Why A Food Liability Insurance Program is a Necessary Part of the Food Production Process

By Insurance News Editor / February 27, 2023 /

We 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 More

Why Food & Beverage Wholesalers Need Commercial Auto Insurance

By Insurance News Editor / November 18, 2022 /

Food 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…

Read More

Business Interruption Insurance for the Food & Beverage Industry

By Insurance News Editor / September 26, 2022 /

The food and beverage industry has seen a steady increase in losses due to natural disasters, such as hurricanes, tornadoes, floods, and earthquakes. It’s a problem that’s not going away. Over the next decade, climate change is expected to cause a $2 trillion reduction in workplace output and productivity. Natural disasters can cause significant disruptions to businesses’ operations,…

Read More

3 Critical Challenges Facing Global Supply Chains

By Insurance News Editor / August 4, 2022 /

The global supply chain has been under stress as the high demand for product delivery has only increased over the last few years. Furthermore, as businesses import more products into the USA, supply chains and cargo ships have struggled to keep up and make timely deliveries. While COVID-19 certainly changed the supply industry, there are…

Read More
A Food Distributing truck is loaded with goods covered by Marine Cargo Insurance

The Impact of the ELD Mandate on the Food & Beverage Industry

By Insurance News Editor / July 21, 2022 /

Food and beverage businesses always look for ways to improve efficiency and cut costs. The ELD mandate was no exception. While the mandate presents challenges for some industries, the food and beverage industry can benefit from it in several ways. In this post, we’ll explore how the ELD mandate can help your business run more…

Read More

Common Questions about Import & Export Insurance

By Insurance News Editor / July 5, 2022 /

When you’re considering importing or exporting goods, it’s important to factor in the potential risks involved in the process. One of the most important steps in protecting your business against those risks is purchasing import and export insurance. But what does that insurance cover, and how can you be sure you’re getting the best protection…

Read More

Who pays for a product recall?

By Insurance News Editor / April 20, 2022 /

Product recalls are financial and PR nightmares for businesses. Potentially costing billions of dollars, product recalls can be one of the biggest financial losses a company faces. But who pays for a product recall? Many parties are involved, such as the company, insurance, 3rd party distribution, etc. Here’s what you need to know about the…

Read More