Food industry: focus on liability and image
The food industry operates under constant monitoring by legal institutions and the public. Unlike hardly any other area of our day-to-day life, what we eat and drink is associated with strong emotions – and a lack of food safety receives a large amount of attention in the media.
Contaminated products are one of the typical risks in the food industry. Contamination can occur during production or processing, delivery or – as a special risk for food retail – inadvertently by third parties. Liability claims arising from contaminated or spoilt food and drinks can have severe financial consequences for the affected company: in addition to product recalls and demands for compensation after personal injury, manufacturers and traders usually also have to fight long-term damage to their image and reputation. This risk, which is often the result of reports by the media or unsatisfied consumers, is difficult to manage, but may also result in high financial consequences. Funk combines expert know-how of the international insurance market with up-to-date knowledge of legislation and the developments in the food industry to make the potential risks of your company manageable.
Modern solutions for the food processing and production industry
- Public and extended product liability insurance
- Property damage and business interruption insurance
- Malicious product tampering and product extortion insurance
- Product recall insurance
- Technical systems insurance (fryers, thermal fluid systems, refrigeration systems etc.)
- Marine cargo insurance
- Insurance cover for interruptions in the cooling chain during transport
- Insurance cover for loss of earnings due to weather, pests, illness (non-damage business interruption)
Managing risks in a dynamic environment
The food processing and production industry is shaped by fierce competition. The consequences are a high price pressure with the trend towards global procurement chains and product innovations to set companies apart from their competition. Food producers, breweries and distilleries, restaurants and drink manufacturers have to overcome typical industry-specific risks in addition to conventional risks.
As part of a comprehensive assessment of your insurance requirements, our experts analyze all your risks, while putting a special focus on product contamination. If necessary, we implement appropriate special clauses, such as an extended insurance cover that provides protection even in cases where the product is proven to be unsuitable for human consumption.
The insurance market offers a limited number of insurers and hardly any innovations in this area. That is the reason why we, as one of the largest international insurance brokers, commit ourselves even more to working with our clients in the food industry to devise and implement risk solutions that are as individual as possible.