 Contact: Tim Carroll
Telephone: (02) 8864 8293
Australian companies have recently experienced food contamination risks and seen a number of extortion attempts made through malicious tampering with products.
Food manufacturing generates many risks which, if not managed or properly insured, can have devastating consequences leading to negative publicity and loss of consumer confidence. The rise of class actions in Australia has dramatically increased the risk to manufacturers of large and lengthy claims. Some of these risks include:
- site destruction with lost revenue and business opportunities
- food contamination or deliberate tampering by third parties
- extortion
- commodity fluctuations
- IT system failure
- Genetically Modified Organisms
- Foetal alcohol syndrome
While insurance products are available to cover these risks, prevention is vital for both the insured and uninsured risks. Many food manufacturers also have laboratories providing testing and advisory services for other companies. Professional Indemnity insurance may also need to be considered for these manufacturers.
Marsh works with many organisations in the food manufacturing industry to provide risk management and insurance programs. We can also assist by providing risk consulting services including: |
