HCC Specialty’s Crisis Management Division will begin offering excess product contamination limits for large U.S. food and beverage companies. The company’s “Super Excess” facility will allow the company to participate on an excess basis on high-limit layered programs for which U.S. brokers have been seeking additional capacity.
The new coverage comes in the wake of several high-profile food contamination cases, as well as the passage of the Food Safety Modernization Act. HCC believes these two things and other changes in the industry have created multiple opportunities in this segment.
“We are pleased to have the capabilities to meet the demand of this increasing market segment with our Excess Product Contamination limits,” said Buck Kidder, vice president of HCC Specialty. “While our Crisis Management Division’s traditional core business for this line has been small-to-medium sized food and beverage enterprises, we are now poised to commit HCC capacity to a different segment of the industry at attractive terms that call for minimum underlying limits of $25 million.”
The Wakefield, Mass.-based HCC Specialty is a division of HCC Insurance Holdings and also writes high-limit disability, professional liability, public entity, crisis management, special event, difference-in-conditions, promotion protection and weather insurance.
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