Food & Agriculture Insurance
Comprehensive Risk Management for Agricultural & Food Processing Enterprises
USI’s Food & Agriculture team focuses on mitigating and insuring risks throughout the entire supply chain— from farm to fork. Our Food & Agriculture clients face extensive challenges with global supply chain exposures, advances in food distribution systems, government regulations, food contamination and spoilage, environmental challenges and business continuity. In 2011, the U.S. government passed the Food Safety Modernization Act, which implemented new regulations that have required the industry to increase investment in food safety processes and be more accountable. More sophisticated testing and traceability has dramatically increased and exposed businesses to added liabilities, resulting in a higher risk of business shut down.
USI works with our clients to address these risks through industry specific risk management techniques and risk finance strategies.
USI’s Food & Agriculture team structures insurance solutions and services including:
- Employment Practice Liability for Seasonal Employment
- Product Contamination Coverage
- Product Recall Coverage
- Seamless Inventory Coverage - Transit, Storage and Distribution (Stock Throughput)
- Farm Property (Livestock, Machinery, Supplies)
- Controlling Cost of Workers’ Compensation Coverage
- Business Continuity
- Automobile Liability
- Environmental Risks
- Directors & Officers Liability
- Contractual Review
To analyze our clients' business issues and challenges, our Food & Agriculture Practice leverages USI ONE®, a fundamentally different approach to risk management. USI ONE integrates proprietary business analytics with a network of local and national technical experts in a team based consultative planning process to evaluate the client’s risk profile and identify targeted solutions. Clients then receive tailored recommendations for improving their total cost of risk.
Experience the USI ONE Advantage® and learn how our Agriculture industry specialists can provide your business with best-fit insurance products and sound risk management advice. Email PCsolutions@usi.com to learn more or contact your local USI office today.
Boiler machinery policies are the most common way to insure against the risk of spoilage, contamination, perishables and other consumables. However, a loss caused by miscalibration, human error or the lack of direct physical damage to the boiler machinery system is not covered by the boiler machinery policy. USI clients have access to a separate stock throughput policy that covers inventory losses arising out of human error or other events not necessarily tied to direct physical damage. A large USI grower/packer/chipper client in the Northwest region recently suffered a $750,000 inventory loss due to an error in setting the temperatures properly in their cold storage warehouse. The client’s loss was fully covered under the stock throughput policy placed by USI.
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