Food Manufacturing Insurance

 

If your business is focused on making or preparing food or ingredients to be used in food or beverages, you have very unique financial risks that your insurance needs to protect you against. This includes not only your liability but often your property and machinery.

Business insurance for the food industry requires careful analysis of your business, how you sell your products, and to whom you sell them. All too often, businesses like yours end up in claim situations you thought was covered, only to find out it wasn’t.

At Aspire Insurance Solutions, our specialist commercial insurance representatives have in-depth experience with all the risks and types of claims you could face.

 

Unique Risks of Food Manufacturing

 

The food and beverage industry exposes businesses to certain risks that could end up costing crippling amounts of money. These situations are common enough and unless you are covered under the correct product, claims can result in serious business disruptions or unrecoverable positions.

Here are some situations you could encounter:

Personal Injury

Imagine one of your most popular products is tarnished with a contaminated ingredient or is handled incorrectly and spoils, resulting in one or more consumers falling ill. Regardless of whether this was an ingredient that you manufactured, or whether the issue arose in transit, your brand is the first to be pulled into the fold and defence costs escalate instantly. Having the correct liability coverage that does not exclude these scenarios is absolutely vital, whether you are ultimately held responsible or not.

Product Contamination Recalls

If the above scenario were to take place, large batches of products would likely need to be recalled. Even if you were to quickly identify the problem before it resulted in any harm, you are now faced with a very costly process to have the affected products recalled and attended to appropriately. Coverage for product recall expenses is often overlooked when taking out liability, making personal advice and recommendations extremely important.

Regulation, Compliance & Audits

The food industry is heavily regulated to protect consumers. Whether you intentionally or unintentionally end up in a situation where you’re not fully compliant, you could face very hefty fines and legal fees. There are options to protect you against the potential consequences of breaches, allowing your business to recover as quickly as possible.

These are just a few common risks that our services can help financially protect you from. There are many more that your insurance representative at Aspire will be more than happy to explain.

 

Quality Advice You Can Trust

 

Whether you own a small food production business or a large industrial operation, our team of commercial insurance representatives at Aspire have the experience to provide you with excellent advice on a wide range of products to help you make an informed decision.

We interpret the coverage options under each option and endeavour to give you options with varying levels of coverage and costs. With extensive experience in the industry, we have encountered both common and unique claim scenarios. Understanding how to financially protect you against as many risks as possible ensures your business can operate at its full potential and overcome issues when they arise.

 

What Can Food Manufacturing Insurance Cover?

 

While your insurance policy can be tailored to your individual business requirements, here are some of the most important categories of insurance to consider:

  • Public & Products Liability – including optional endorsements like Product Recall Expenses
  • Property Damage cover incl. fire & other perils, covering equipment, fixtures and fittings, and stock
  • Business Interruption cover
  • Flood cover (this is almost always an optional cover that is otherwise excluded)
  • Theft / Burglary cover
  • Glass cover – internal and external breakage
  • Money cover – for physical cash
  • Management Liability
  • Professional Indemnity
  • Cyber Insurance
  • Workers Compensation

 

Contact Us Today

 

Holding insurance to protect you against serious financial loss is not something you should lightly. Don’t expose yourself to unnecessary risks and take advantage of an obligation-free quote from our team at Aspire Insurance Solutions by calling us on 1300 886 781.