Swiss Re launches contaminated products insurance
Swiss Re Corporate Solutions has launched contaminated products insurance cover for the food and drink industries in the UK, Ireland and Italy.
The cover offers protection in both the primary and excess layers for manufacturers, retailers and distributors.
In case of a potential incident, crisis management support will be available 365 days a year, 24 hours a day. This service is embedded into the cover and will be provided by food and drink consultancy and training firm RQA Group on behalf of Swiss Re Corporate Solutions.
Tony Buckle, head of Europe, Middle East and Africa for Swiss Re Corporate Solutions, said: "The food and drink sector is one of the largest manufacturing segments in the UK, Ireland and Italy. The consequences of contaminated or defective products pose serious challenges to companies operating in the sector.
“The extent of our contaminated products Insurance cover, our in-house risk engineering services and local claims expertise, combined with RQA's consultancy support, represent a compelling value proposition to clients."
Vince Shiers, managing director of RQA Group, added: "Food and drink is one of the sectors most exposed to crisis conditions. Through this partnership, Swiss Re Corporate Solutions' clients will get immediate support in situations involving accidental product contamination, governmental recall, product extortion and malicious product-tampering.
“Our main focus, however, is on lowering the occurrence of such incidents. We are very happy to join forces with Swiss Re Corporate Solutions in this effort."