Insurance for Food Processors
Lloyd Sadd Insurance offers flexible and competitively-priced insurance programs for food and beverage processors, wholesalers, and distributors that can be customized to meet the needs of your specific operations. We provide coverage for your food inventory, goods in process as well as products while they are in transit.
We offer packages that include the unique coverage features that pertain to your industry, such as:
- Contamination and infestation
- Consequential loss, which includes power failure that occurs off premises
- Negative publicity coverage and reputational injury
- Product recall
- Spoilage due to breakdown or failure of refrigeration, cooling or heating
- Business interruption for your losses if your supplier’s or customer’s
- Research and development interruption, which is included in business
- Environmental pollution liability
- Transportation floaters including reefer breakdown
- Delayed shipments
- Infringement of patents and copyrights
In the food manufacturing industry, you face a variety of unique risks that may lead to devastating loss. To protect yourself against the risk of loss, it is vital to have a top quality food processing insurance policy in place.
Some of the main causes of loss in this industry include:
- Process hazard that results in fire
- Electrical fires
- Weather and flood damage
- Theft and malicious damage, this includes damages that occur while the products are in transit
- Escape of water
- Employee dishonesty
- Food poisoning
Business Interruption Protection
Business interruption is a big issue in the time sensitive, logistics dependent food processing sector. By understanding the disruption this can cause, at Lloyd Sadd Insurance, we have used this insight to deliver an enhanced business interruption proposition.
This proposition includes coverage for electrical or mechanical breakdown of building systems and production equipment, specified or unspecified customers and suppliers, utilities interruption, as well as the denial of access. With this type of coverage, your food manufacturing business will be protected against the shutdown of operations by forces that are beyond your control. Even if you have to close up shop for a while, you will still have bills to pay, employees to pay and vendors to pay. These things are not going to stop just because production stops. The main goal of business interruption coverage is to keep your business intact if such an event does take place.
This aspect of your Alberta food processing insurance policy is designed to keep the capital coming through your business so that it is possible for you to stay afloat even if you have to close your doors for a short time. You are also covered for lost net income, continuing expenses as well as additional expenses.
With the realization of the unique needs of food manufacturers, Lloyd Sadd Insurance has compiled the necessary resources to provide those in this industry with specific insurance products that are exclusive to your sector. We have worked diligently to become your single source solution to meet all of your food processing insurance needs.
Do not wait any longer worrying about all the things that could happen to ruin your business. Seek protection through food processing insurance now.