Food and Beverage Products

The Center for Disease Control and Prevention estimates that each year roughly 48 million Americans get sick, 128,000 are hospitalized and over 3,000 die from foodborne diseases. 

In 2015, there were 644 food recalls according to the USDA. That’s almost two recalls every day of the year! Managing product recall risk does not end with good food safety practices. A well-rounded risk management program should include a combination of effective preventative controls and insurance. Product Recall / Contamination Insurance is the most effective means of protecting businesses from an unlikely but potentially devastating situation.

Target Risks

• Food & Beverage Manufacturers
• Food & Beverage Co-Packers
• Ingredient Manufacturers & Suppliers
• Food & Beverage Importers
• Food & Beverage Retailers & Distributors

Markets

Domestic and international non-admitted carriers

Available Limits

$500,000 – $100,000,000+ any one covered Incident and in the aggregate

Deductibles

• Minimum Deductible = $10,000
• The minimum feductible for the risk will increase based on product type and estimated revenues.

Minimum Premium

• Minimum premiums start at = $2,500
• Worldwide territory

Covered Incidents

• Accidental Product Contamination
• Malicious Product Tampering
• Product Extortion
• Adverse Publicity
• Government Ordered Recalls
• Product Refusal
• Intentionally Impaired Ingredients

Covered Losses

• Recall Expenses – First and Third Party
• Loss of Profits – First and Third Party
• Brand Rehabilitation – First and Third Party
• Replacement Costs
• Extortion Payments
• Crisis Management Fees and Expenses
• Third Party Financial Loss

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