Liberty Mutual Property, part of the Liberty Mutual Group, has launched a new endorsement to its commercial property coverage that provides services for the food processing industry. RM Custom Select addresses the top three property insurance concerns for food processors: accidental contamination, malicious and intentional tampering, and public health and safety issues in food distribution.
“We are always looking for smart ways to help protect our clients’ business,” said Tim Rose, president of Liberty Mutual Property. “Our latest product goes beyond the policy and combines coverages with specifically designed services to address the biggest threats faced by food risk managers.”
RM Custom Select also addresses a common coverage gap found in the market: food product testing for a product exposed to malicious or intentional tampering or shows no direct physical damage, but is declared unfit for its intended use. The new product also offers enhanced protection for:
* Contaminated food product
* Food product recall
* Spoilage of perishable food product in transit
* Research and development costs
* Service interruption with extension for perishable goods
The service component of RM Custom Select includes pre-loss claims consultations to review policy language and explain how the policy would respond in certain loss scenarios. It also includes industry-specific risk management guides and case studies authored by Liberty Mutual Property’s loss prevention consultants, which outline key food industry exposures and how they may be prevented or mitigated.
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Source: Liberty Mutual Group
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