Product Contamination Insurance
BRC’s preferred supplier XL Insurance
At XL Insurance we understand that protecting your business from product recalls requires more than an insurance policy. We also recognise that your most valuable intangible asset is your brand. Being prepared is what prevents a recall from becoming a crisis. Our policyholders need access to the best, experienced advice in risk prevention, recall planning and crisis response.
Our two-tier approach is a dedicated crisis management service with a bespoke product contamination insurance policy, to offer an overall risk transfer solution.
Our core product is Product Contamination Insurance covering Accidental Contamination, Malicious Contamination and Extortion.
Coverage is provided for:
Product replacement, re-labelling, reworking and disposal
Third Party Recall Expenses
Loss of Gross Profits
Increased Cost of Working
24x7 Crisis Management Support
OUR CORE INDUSTRIES
Food and drink companies – from small turnover to FTSE 100
RESPONSE XL - OVERVIEW
We have assembled an exclusive network of partners dedicated to servicing the needs of XL Insurance policyholders both before and during recall situations. The network is co-ordinated through a core crisis management consultancy in the UK and comprises specialists in key areas such as recall/crisis management preparedness, security technical services, legal and regulatory advice.
We encourage our policyholders to work proactively with our core crisis management consultants and will look to dedicate a portion of the premium to finance pre-incident consulting work.
Service in detail:
The Response XL service comprises two key areas in addition to the core insurance coverage:
Pre-incident consulting – Your initial contact, once your policy is in place, will be with Razor (see ‘Who is Razor?’ below). This will include an introduction to the service and a free consultation to establish your immediate needs. This may lead to further activity by mutual agreement, the objective being to strengthen your resilience in recall situations, thereby helping you minimise losses and protecting your brand.
Such activities could comprise:
A detailed audit (technical or non-technical)
Development of written procedures and other supporting processes
Crisis simulation/media training
Review of physical security
XL Insurance will contribute a portion of your policy premium to help cover pre-incident consulting activities. You are welcome to purchase additional activities that fall outside of this allocation:
Live crisis response – 24/7 priority access to Razor on discovery of an actual or potential product contamination or extortion situation. They can support you as required in the management of your recall, both strategically in terms of risk assessment and action plan development, through the provision of crisis communication materials or simply acting as a sounding board for your key decisions. They can also invoke the services of other specialists in the Response XL network:
Security management – leading consultants from military and police backgrounds for situations of malicious contamination and other related criminal acts
Food law – experts to answer everything from regulatory queries to complex legal questions
Field marketing – physical help in product retrieval or mystery shopping plus post-incident support
Medical toxicology – advice, analysis and breakdown of the impact of foreign body matter in a product
Emergency laboratory testing – advice and analysis of product contamination and related risks
XL Insurance pays all crisis response costs from day one – policy self insured retention does not apply. Even if parties are unsure if the event is covered by the policy XL Insurance will still cover immediate crisis response costs up to £100,000.
Who is Razor?
Razor – Core consultant for the Response XL network
A full service communications consultancy and part of the College Hill Group, Razor specialises in crisis, risk and issues management within the food and drink industry. They assist organisations in the implementation of extensive risk management programmes, covering both proactive and reactive services for all elements of the food-agri chain.
Their highly experienced senior team originates from diverse backgrounds including journalism, public relations and business continuity – they have a combined experience of 75 years in the food and drink industry encompassing agriculture, manufacturing, retail and regulatory sectors
Razor is also the lead member of the European Crisis Management Partnership (ECMP), a network of specialist risk and crisis management consultancies spanning nine European countries
INFORMATION WE NEED TO PREPARE A QUOTE
1. XL Insurance application or ‘indication only’ form
2. Crisis, Recall and Quality Assurance plans
3. Latest BRC audit
For more information please contact us on email@example.com, telephone: +44 (0) 20 7933 7000, or visit www.xlinsurance.com.
XL Insurance is a registered trade mark of XL Capital Ltd and the global brand used by its member company subsidiaries. Coverage’s described herein are underwritten by XL Insurance Company Ltd