Risk Management Program
Our program covers recall expenses including any contaminated product, as well as costs of chemical analysis, transportation, warehousing and relocation of the product. Lost gross profit coverage of the entire operation for up to 12 months after a tampering or contamination is also provided. In addition, customer recall expenses incurred by your customers as a result of your product becoming a component part of their product are covered. Customer loss of profits coverage provides reimbursement to your customer for profits they would have realized from the sale of your product had a recall not occurred. Coverage includes rehabilitation expenses incurred to restore the reputation and market share of the entire entity that is the subject of the tampering or contamination. Additionally, coverage includes crisis management consultant and public relation expenses incurred in connection with the response to a covered incident. Policy periods are available in one, two and three year increments.
Program Benefits
Our program offers a $50,000,000 capacity. Coverage is triggered by a contamination or tampering with or without a recall. Your coverage extends to your customers so they will remain your customers after a loss. Professional crisis management through Red24 Crisis Management Consultants provides pre-loss planning and post-loss controls and investigations. Meat industry claims experts will handle the servicing and logistics of your loss at all stages. You will also have your choice of public relations firms to restore your good name. Additionally, the services of food safety consultants are included.
