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…
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As 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…
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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…
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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…
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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…
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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…
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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…
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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,…
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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…
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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…
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