Food production, logistics and distribution is at the heart of any society. No matter what the crisis – political, economic or health – business in this industry need to protect food supply at all costs. Insurance to mitigate against the plethora of risks the food and drink industry is exposed to is essential.
GrECo’s vast experience in this sector across CEE means our clients comprise many different types of business including farmers, fisheries, meat processors, manufacturers, packaging, storage, logistics and distribution, animal feed manufacturers, distilleries and breweries, canning plants, mills and bakeries, raw crop processors, grocery stores and restaurants, food equipment producers and more.
Our approach to risks in the food and drink industry is innovative and bespoke. Thanks to our extensive local and global expertise in food processing, logistics and trade, we offer compelling insurance solutions to precisely fit your needs.
We focus on the financial resilience of our clients, helping you to produce and deliver enough quantity and quality food products no matter what.
From providing innovative insurance solutions, supporting international operations, and giving professional advice and assistance, to preempting today’s new risks and delivering alternative risk management solutions, we’ve got you covered.
The peculiarity of the food and drink industry is that it demands the largest number of different insurance lines than any other segment of the economy. Some of our clients’ most popular insurance solutions include:
- Products & general liability;
- Product contamination & product recall;
- Property and motor insurance products customised for the food industry;
- Cargo insurance;
- Health & benefits;
- Political & credit risks;
- Financial lines (D&O, cyber, crime, M&A);
- Parametric insurance policies aimed to protect against a decrease in consumption due to a cold sales season and against the lack of quantity or quality of raw materials;
- Insurance programmes to improve relations between a food processor and suppliers of raw materials.
In addition, to counteract the escalating impact of climate change, the spread of epizootic diseases and the impact of pandemic risks GrECo Group offers new risk management programmes to protect businesses from unexpected disruption to their activities. These include supply-chain risks identification and quantification; bio-security audits of suppliers; business continuity plans; risk engineering services; weather impact analysis with further bespoke solutions in non-property damage and contingency business interruption insurance; and the automatic scoring and monitoring of raw material suppliers’ reliability.
Our holistic risk mapping approach helps our clients in the food and drink industry to realise the full variety of risks to the industry. We work closely with them to determine the most appropriate risk management strategy, fill in existing gaps in their insurance coverage, and ensure they stay financially stable at the bottom line.
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Nathalie Vantieghem
Head of Industrial Risks
T +43 5 04 04 328