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Product Recall – Global

Understanding Recall Issues A major recall in the food manufacturing and retailing sector was once a rare event guaranteed to make the news headlines. Not anymore. Hardly a week passes without some new eruption of salmonella, listeria, E. coli, or other noxious contaminants cropping up somewhere along the food production and distribution chain. When the source is far back along

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Contaminated Products Insurance (CPI) and the Food Industry

Ian Harrison

Impact of FMSA and Market Response It was initially thought that the Food Modernization Safety Act (FMSA) passed by the U.S. Senate on November 30, 2010 and signed into law by President Obama on January 4, 2011 might have a significant impact on the Contaminated Products Insurance (CPI) market. The Act – the subject of a previous Lockton white paper

Overcoming Enterprise Disruptions – New Risk Tools Help Companies with the “Uninsurable”

Ian Harrison

The commercial and operational realities of today’s global business environment are creating a whole new class of risks that do not fit neatly into the traditional categories of insurable risk for organizations. We call these “contingent enterprise disruptions,” and they can cause significant financial loss to your organization, as well as inflicting costly damage to your corporate reputation. Counterfeit goods

Appetite for U.S. Food Regulation Increases

Ian Harrison

Lockton product recall specialists say increased factory inspections, more product recalls and higher production costs will be inevitable if and when the new Food Safety Act passes into U.S. law in early 2011. Responding to popular concern about food safety in the wake of a number of deaths last year, the U.S. Senate passed S510, the Food Safety Modernization Act,

Unique Wording Paves the Way for Market-Wide Solution

Ian Harrison

Two high-profile US food contamination incidents last year highlighted a serious gap in product contamination and recall coverage. Supply chain contamination incidents involving the Peanut Corporation of America (PCA) and the Plainview Milk Products Cooperative both triggered major product recalls of food processed using these key ingredients. The Food and Drug Administration (FDA) ‘strongly advised’ customers of both PCA and

Supply and Demand Growing for Product Recall Insurance

Ian Harrison

Spring 2010 – Recall Contamination Market Review At the start of the new decade the specialist market for insurance risk management of product recall and contamination is in good shape from an insurance buyer’s perspective. We have seen a steady growth in both supply of insurance capacity and expertise in this area married to high levels of interest in insurance