Food Industry Insurance
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…
Read MoreRunning 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…
Read MoreProduct 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 MoreBy 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…
Read MoreIt 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…
Read MoreWe 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…
Read MoreThe 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…
Read MoreProduct 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…
Read MoreCyber 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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