Product Contamination / Restaurant Recovery
Available from Tokio Marine HCC - Specialty Group
Accidental contamination and malicious product tampering of food products in the restaurant industry causes restaurants to lose millions of dollars in revenue, including restaurants and groups of franchisees trading under the same name as the business originally affected. The impact of a trading interruption to a restaurant that suffers the effects of a foodborne illness, contamination, tampering or extortion can have a devastating effect on the restaurants financial stability and reputation. The restaurant recovery insurance policy offered through Specialty Group responds to that need.
The policy offers business interruption coverage back to pre-incident sales and also covers brand name rehabilitation costs. Numerous other additional expenses are covered, including recall costs, incident expenses and crisis management advice. Coverage is available to restaurants of any size, single or multi-location enterprises, including individual groups of franchisees.
•Loss of gross profit for a period of up to 18 months
•Value of contaminated products
•Crisis response and consultant expenses, including public relations & recall consultants
•Increased cost of working
•Food and beverage/nutraceutical industry
Bert Van Wagenen
Sr. Vice President, Specialty Underwriting