Download Supermarket Contamination and Recall Insurance

Supermarket
Contamination and
Recall Insurance
Comprehensive Coverage for
Prepared Foods, Private Label
and Center Store
BERRIAN
INSURANCE GROUP
Berrian Insurance Group, Inc
Office (303) 795-5831 | 10375 Park Meadows Drive, #220 | Littleton, CO 80124
CA License # OE22557
Berrian Insurance Group is pleased to announce an
innovative insurance product designed specifically for
Hypermarkets, Supermarkets and Groceries.
This exclusive policy has been created by Joel Berrian and Joe Bermudez, who are Coverholders with Lloyd’s of
London and leaders of Berrian Insurance Group, a Leavitt Group company. The policy is designed to protect prepared
foods, private label and center store operations against losses resulting from product contamination events and
product recalls.
Insured Events
Prepared Foods
Private Label
Prepackaged Goods
◦◦ Prepared Foods
Contamination
◦◦ Accidental Contamination
◦◦ Disease Outbreak
◦◦ Malicious Tampering
◦◦ Supplier Contamination
◦◦ Pharmaceutical
Contamination
◦◦ Malicious Tampering
◦◦ Product Extortion
◦◦ Product Extortion
◦◦ Adverse Publicity
◦◦ Adverse Publicity
◦◦ Prepackaged Pharmaceutical
Contamination
◦◦ Product Extortion
◦◦ Malicious Tampering
◦◦ Prepackaged Food
Contamination
◦◦ Product Defect
◦◦ Public Health
Announcement
◦◦ Workplace Violence
BERRIAN
INSURANCE GROUP
Supermarket Contamination and Recall Insurance | Page 2
Program target size includes prospects
with sales from $30 million to
$5 billion.
The key benefits of this program include:
◦◦ Broad policy form created to protect profit centers
beyond center store.
◦◦ Can structure policy as working insurance or as balance
sheet protection.
◦◦ Covers losses not covered under standard product
contamination or product recall insurance.
◦◦ Criminal Strict Liability, Governmental Recall and
Expedited Claims Preparation coverage available.
Grocers’ need a solid insurance program:
◦◦ Prepared Foods generate outbreak exposures, which
differ from standard grocer exposures.
◦◦ Uniquely designed policy protects expanded Prepared
Food operations, revenue and customer base.
◦◦ Private Label sales significantly increase brand
exposure.
◦◦ Private Label requires additional FSMA responsibilities,
which differ from standard grocer exposure.
◦◦ Private Label manufacturing increases risk of employee
prosecution for criminal strict liability.
◦◦ Global supply chain sourcing of ingredients and
products brings increased risk.
◦◦ Increased frequency and severity of product recalls.
◦◦ Brand and balance sheet protection.
BERRIAN
INSURANCE GROUP
Supermarket Contamination and Recall Insurance | Page 3
We protect grocers’ brands and balance sheets as they
expand into the $28 billion prepared foods market, provide
coverage for Private Label brand rehabilitation, and include
fresh produce recalls in our prepackaged goods coverage.
Competitive advantage:
◦◦ Berrian Insurance Group is authorized to bind and issue policies with
up to $50 million limits per company and access limits of several
hundred million above our facility.
◦◦ Berrian Insurance Group has created a Strategic Partner Network with
ReposiTrak, insurers, crisis consultants, sanitation experts, banks and
private equity, forensic accountants and law firms to assist you.
◦◦ Joe Bermudez authored product contamination/product recall policies
for 18 insurance companies/syndicates and handled hundreds of
actual product contamination/recall matters.
◦◦ Considerable flexibility in designing coverage extensions and pricing.
◦◦ Global capacity for product contamination coverage exceeds $500
million.
Our Strategy
Premium Discounts Enabled Through
Use of ReposiTrak
ReposiTrak is the leading provider of Compliance
Management and Track & Trace solutions for
food safety, exclusively endorsed by the Food
Marketing Institute, (FMI), and Retailer Owned
Food Distributors & Associates, (ROFDA). Users
reduce their level of risk through automating the
management of food safety, business, quality
and regulatory documentation for themselves
and their supply chain. ReposiTrak’s Compliance
Management System provides 24/7 access to
records, along with dashboards and alerts to
◦◦ A competitively priced approach to insuring product contamination/
recall.
provide visibility to missing or expired documents,
or to where specifications have not been met.
◦◦ Ability to “buy down” the policy retention.
For underwriters, the ReposiTrak platform
provides unmatched visibility to the risks
prevalent in an insured’s supply chain.
◦◦ Consultative approach to C-Suite.
◦◦ Gap analysis illustrates coverage gaps in supply chain agreements and
lack of insurance protection.
◦◦ Discuss actual examples of current loss events, which illustrate how
our innovative solutions respond.
Contact Us Today
Joel Berrian, CPCU, ARM, AIC
[email protected]
Joe Bermudez, Esq.
[email protected]
BERRIAN
INSURANCE GROUP
◦◦ Access to any quality control document.
◦◦ Alerts when scores are outside of a predetermined range.
◦◦ Insight into the amount of insurance
carried by an insured’s suppliers in case of
subrogation.
◦◦ Fast tracking of products to limit both
circulation and claims when a problem
occurs.