Insuring Specialty and High-Value Foods

Helpful Facts

  • Food fraud costs $40-50 billion annually with incidents rising 10% in 2024, requiring specialized insurance beyond standard commercial policies.
  • Three key coverage types protect against food fraud: product recall insurance, marine cargo insurance, and business interruption insurance.
  • Standard commercial insurance excludes fraud losses - businesses need specialized food industry coverage for comprehensive protection.
  • Prevention reduces premiums - supply chain verification, quality testing, and blockchain tracking lower both fraud risk and insurance costs.
  • Claims require specific documentation including lab test results, supply chain records, and regulatory correspondence for processing.