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Food industry insurance
In the food industry, a breakdown, a fire or a contaminated batch does more than damage the plant: it halts production, jeopardises contracts with retailers and can force product to be withdrawn from the market.
Activities we advise on
Oller Brokers has been an insurance broker since 1952. It advises food industry companies on the design, placement and review of their insurance programmes, with access to more than 70 insurers.
We design and review insurance programmes for production plants and food groups, including those that export. We analyse the entire programme or the specific policy you are concerned about to improve cover and terms.
- Food groupsGroups with several plants, own brands and export activity.
- Meat industry and abattoirsAbattoirs, cutting plants, processed meats, industrial refrigeration, etc.
- Food manufacturingReady meals, industrial bread and pastry making, dairy, etc.
- Packers and canneriesPacking, canned food, frozen food, processing plants, etc.
- Beverages and wineriesWineries, breweries, bottlers, distilleries, etc.
- Crop and livestock productionFarms, integrators, cooperatives, animal feed mills, etc.
Risks and cover
Choose a risk to see which insurance covers it in the programme of a company in the sector.
Risk
Plant shutdown
A fire or a serious breakdown halts production for weeks, while fixed costs keep running.
How it is covered
Risk
Refrigeration and machinery
The failure of cold rooms, lines or refrigeration equipment can spoil stock within a few hours.
How it is covered
Risk
Product contamination
A contaminated batch can force product to be withdrawn from the market and give rise to claims from customers and consumers.
How it is covered
Risk
Product liability
Damage to third parties caused by a defective food product, in Spain or in export markets.
How it is covered
Risk
Goods in transit
Loss or damage during the transport of raw materials and finished products.
How it is covered
Risk
Customer non-payment
Sales concentrated on a few distributors increase the impact of non-payment.
How it is covered
Insurance they typically need
Every company is different. These are the policies that carry most weight in the programme of a company in the sector.
- All risks property damageBuildings, machinery and stock against any damage not excluded.
- Business interruptionYour margin and fixed costs while operations are halted by a loss.
- Machinery breakdownInternal breakdown of machinery and equipment not covered by the property damage policy.
- Product liabilityDamage to third parties caused by products manufactured or sold.
- Product contamination and recallCosts of withdrawing a batch from the market and resulting losses.
- Goods in transitDamage to or loss of goods during transport.
- Trade credit insuranceCustomer non-payment due to insolvency.
- Environmental liabilityPrevention and remediation of environmental damage.
- Agricultural insuranceCrop and livestock production against weather risks and other damage.
- FleetsCompany vehicles, on fleet terms.
- International programmesCoordinated cover for subsidiaries and activities in other countries.
Two ways to get started
Full programme review
We analyse all your policies together: duplicated cover, gaps, sums insured, deductibles and exclusions. We then present alternatives from different insurers.
Review of a specific policy
A renewal with a premium increase, a contract requiring new cover or a poorly resolved claim. We examine that policy and look for better terms.
Large risk programmes
A medium-sized or large company does not need a stand-alone policy, but someone to design, place and defend a complete programme. That is what we have been doing since 1952. See more
- Risk analysisWe study the business's activities, facilities, contracts and claims history. Working with specialist firms, we also offer a risk management service.
- Properly valued sums insuredWe review insured values and business interruption so that a claim payment is not reduced due to underinsurance.
- Access to the whole marketMore than 70 Spanish and international insurers, underwriting agencies and Lloyd's through coverholders.
- Co-insurance and excess layersWhen a risk exceeds one insurer's capacity, we spread it through co-insurance and structure it in as many excess layers as needed.
- International programmesFor groups with subsidiaries outside Spain, we coordinate international programmes that comply with each country's regulations.
- In-house claims teamSupports the business from notification through to settlement and defends its position with the insurer.
Frequently asked questions
Which insurance covers the recall of a food product?
The product contamination and recall policy. It can cover the costs of withdrawing the batch, the resulting loss of profit and, depending on the policy, crisis management costs. General liability does not normally cover recall.
Does the property damage policy cover the income I lose if the factory stops?
Not on its own. That is what business interruption cover is for: it is taken out together with property damage cover and must be calculated on the company's actual margins.
What happens if the goods in a cold store spoil?
It depends on how the policy is worded. You should check whether it covers deterioration of stock due to breakdown or loss of refrigeration, with what limits and what deductible.
Am I covered if I export?
Product liability must expressly include the countries where the products are sold. We check this in every programme.
Other sectors
Can't see your sector? We work with businesses in every field.
Let's talk about your business
We review your insurance programme, or the policy you're concerned about, with no obligation.