Consumers are becoming increasingly aware of food safety and food quality issues. This has led many suppliers, processors and distributors to put in place comprehensive and costly measures to protect brand reputation.
However, companies still rely on traditional insurance coverage to protect what are unique risks.
The Food and Beverage Policy provides seamless coverage throughout the entire supply chain, from purchase/harvesting of raw materials/produce through to delivery to final buyers including all stages in between such as processing, preparation, packing, storage, consolidation and distribution operations.
Our “All Risk” Coverage is tailored to the needs of each customer and includes:
Deterioration resulting from any variation in temperature.
Accidental and Malicious Contamination of the product.
Loss or Expense incurred as a result of a Power Outage.
Necessary Extra Expenses incurred in order to continue as nearly as practicable the normal operation of the client’s business following loss of or damage to the subject-matter insured caused by a peril insured.
Consideration should also be given to purchasing additional coverage for Product Recall and Rejection Risks:
Product Recall – Many customer supply contracts now require the supplier to assume responsibility for recall expenses.
Rejection Risks – Importers and exporters should be aware of being caught up in political incidents resulting in the rejection of imports by Government Authorities.
For further information please visit our site: www.greenwoods.org
