Food
In the food industry risk carries a batch number, and a claim is decided by how quickly the product is traced, withdrawn and replaced. Insurers underwrite this sector with the traceability plan on the table, and our specialists know what they look for in it: recall sub-limits, contamination business interruption and stock declared at the seasonal peak. With that criterion we size with you a programme that accompanies the whole season.
The covers that support a company in this sector
Each one is designed based on the company's real exposure. None are contracted the same in two companies in the same sector.
- Property damage insuranceAssets, stock and continuity
- Construction and all-risk insuranceWorks, testing and maintenance
- Civil liability insurance for companiesOperations, employer and product liability
- Cargo insuranceGoods in transit and open cover
- International insurance programmesMaster policy and admitted local policies
- Trade credit and surety insuranceSecured collection and per-buyer limits
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Does the civil liability policy cover the withdrawal of a batch?
Civil liability responds to the damage that the product causes to a third party. Recovering it — notifying the distribution, retrieving the merchandise, transporting it, and destroying it — is compensated by the withdrawal expenses guarantee, which is contracted separately and with its own sublimit. The loss of margin in the following months belongs to a third guarantee, the loss of profits due to product contamination, and the three are dimensioned separately.
How are stocks declared if the warehouse only fills during the campaign?
On the peak of the exercise, which is when there is the most stock inside and when a capital calculated by the average falls short. To avoid maintaining that peak for twelve months, there is the periodic declaration clause: a maximum capital is set, the actual stock is declared with the agreed frequency, and the premium is regularised at the close.
Once the line is repaired, from when does the plant start billing again?
Later than the repair completion certificate indicates. Between the start-up of the equipment and the first sellable shipment are the cleaning and disinfection, the validation of the line, and the release of the first batches by quality control, and that stretch runs entirely within the indemnity period. Therefore, the period is dimensioned based on the return to the shelf, which occurs weeks after the end of the work.
Our publications related to the Food sector
Loss of profits: the indemnity period that almost no one calculates correctly
Twelve months is the market standard and a decision that is rarely reviewed. In many industries, it is not even enough to replace the critical machine.
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Underinsurance: why many warehouses would receive half of what their owner believes
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Open transport policy: how it is set up and what needs to be declared
Insuring shipment by shipment is slow, expensive, and leaves gaps. The open policy covers all shipments of the year and issues a certificate when the bank requests it.
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