XL Group has launched its integrated insurance solution developed specifically for the food and beverage (F&B) industry.
Designed to respond to multiple risk exposures, the solution combines product contamination coverage with public, product and employers’ liability with crisis management consulting through Response XL.
It also provides an option to add environmental and cyber cover.
“This solution provides companies in the F&B sector with a comprehensive coverage solution from a single insurer with critical support from our crisis consulting service, Response XL, to assist clients in the event of a crisis situation like a product contamination issue,” says Mark Hutton, product recall underwriting manager.
“We are excited to be able to expand the offering of Response XL. Our consultants are available 24/7 providing, risk and issues management services to our clients. The coverage also provides pre-incident consulting to help clients ensure they have the right systems in place to manage a crisis.”
The company expects demand for this cover to be strong, pointing to increasingly stringent food safety requirements and the rise of social media, which has led to an increased risk of reputational fallout and loss of brand loyalty particularly in the event of a product recall.