Product contamination and recalls in the food industry are making the headlines with ever greater frequency all over the world. With the rise in social media’s influence on consumer behavior, the complexity of the global supply chain, and evolving regulations, food companies have never been at greater risk. As the bar rises on global food safety standards, companies need to be prepared to protect themselves against the risk of reputation and financial damage. We offer a solution that combines pro-active crisis and risk management services with a comprehensive risk transfer product.
”Product Contamination
OMNIRISKCoverage Internationally
Coverage
A standard policy provides for accidental contamination, malicious contamination, and extortion covering the following losses:
- Pre-recall expenses and recall expenses
- Third-party recall expenses
- Loss of gross profits
- Rehabilitation expenses
- The increased cost of working
- Product extortion demand
Extensions include:
- Government recall
- Customer loss of gross profit
- Recall liability damages
- Adverse publicity
- Retailers’ expenses
- Other market extensions
- Manuscript coverage and endorsements
Benefits and Services
- Coverage applies worldwide
- Primary, excess of loss and quota share participation
- Global claims network
- Response OMNIRISK: 24/7 crisis response from a dedicated network of consultants in areas such as food safety, public relations, security consulting and regulatory advice
Client Profiles
Our client profiles range from some of the world’s largest multinational companies through to medium and small enterprises, and these include:
- All categories of food and beverage companies
- Restaurants (specific coverage available)
- Nutraceuticals and food supplements
- Pet food
Coverage also available for the following sectors:
- Cosmetics
- Toiletries and household products
- Pharmaceuticals (specific coverage available)
- Tobacco
