Food Industry Insurance

What are the four types of marine insurance?

By Insurance News Editor / May 12, 2022 /

All insurance is designed to help you or your business manage risks in the event of accidents or damages. Marine insurance is designed to help manage the risks involved with the travel of goods from one destination to another.  Despite what the name implies, marine insurance covers all modes of transportation of goods. However, it…

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What are the benefits of trade credit insurance?

By Insurance News Editor / May 2, 2022 /

Running a business is difficult. Learning to protect yourself from liabilities and potential losses is one of the most difficult parts of running a company. However, it doesn’t have to be as complicated as people think! One of the best ways to protect yourself from bad debts and unpaid invoices is to get trade credit…

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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…

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Mitigating Supply Chain Threats to the Food Chain

By Insurance News Editor / February 22, 2022 /

By Michael Coughlin and JJ Van Aman The global trade system has never contended with anything quite like the Coronavirus. The pandemic has triggered inflation across the supply chain from labor to raw materials, forcing corporate America to raise prices of everything from burgers to hoodies. However, hit by higher freight expenses, many companies still…

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What type of factors can lead to a recall event?

By Julian / August 22, 2021 /

It is essential to understand why recalls occur in an ideal world, every product that we build, buy, or own, would be perfect in every way. The reality, however, teaches us that while perfection is something to strive for in the marketplace, it is often something that is not always attained. While some may be…

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What are the common misconceptions about product recall coverage?

By Julian / August 22, 2021 /

We Already Have Coverage Under our General Liability Policy General Liability insurance is a third-party coverage, which typically does not provide coverage for product recall events. Product recall insurance is a first party coverage protecting the insured through reimbursement of financial loss and expenses (which are typically excluded on a general liability policy). Additionally, product…

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Recalls and Public Health Alerts

By Julian / August 18, 2021 /

The U.S. Department of Food & Agriculture Food Safety and Inspection Service protects the public’s health by ensuring the safety of meat, poultry and egg products. FSIS is part of a science-based national system to ensure food safety and food defense. FSIS ensures food safety through the authorities of the Federal Meat Inspection Act, the Poultry Products Inspection…

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Product Liability, Recall & Contamination Insurance

By Julian / August 16, 2021 /

Product liability If your company designs, manufactures, distributes or sells a physical product—anything from toys to building supplies to macaroni and cheese—you’ll want to strongly consider purchasing product liability coverage. This coverage helps provide financial protection in the event that the use of your product results in property damage, personal injury or death. Product liability…

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How ready is your food business for a cybercrime attack?

By Insurance News Editor / May 6, 2021 /

Cyber risks are a top concern for retail, wholesale, food and beverage companies. In fact, the past two years have seen a significant increase in the number of retail, wholesale, food, and beverage (RWFB) organizations that consider cyber risks to be a top threat. Smaller companies, particularly those with less than $100 million in annual…

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