Portland, OR – Woodruff Sawyer, one of the largest insurance brokerages in the US, today introduced a new unique insurance product for the food and beverage industry: The Food Wrapper. The Food Wrapper combines important coverages into a food-specific policy that wraps around current insurance programs, thereby addressing such exposures as product recall, spoilage, and emerging cyber threats.
As the insurance market continues to harden and new risks emerge, coverage for certain food-related risks has become more expensive and harder to obtain or renew. To meet the challenge, Woodruff Sawyer’s Food & Beverage team worked with clients to combine key policies for product recall, stock throughput, and cyber to create a comprehensive, cost-effective food-specific program. The result is a custom package policy that provides cost efficiencies, broader terms and conditions, and a simplified program structure while expanding overall coverage.
Jeanna Madlener, Vice President in Property & Casualty and Lead for Woodruff Sawyer’s Food and Beverage Practice, says, “We’ve seen food and beverage business leaders struggling with an increasingly difficult insurance marketplace. Reduced capacity and appetite for stock throughput on food risks, a growing number of cyber-related incidents, and varying coverage forms for product recall are all reasons why we’ve developed the Food Wrapper. It’s an exclusive solution that minimizes the impact of rate increases and coverage restrictions in a hardening market and helps our clients protect their assets.”
About Woodruff Sawyer
Woodruff Sawyer, a Gallagher company, is a full-service insurance brokerage and consulting firm, serving emerging tech companies to global giants for over a century. Headquartered in San Francisco, we offer our clients access to a global platform of exclusive resources, tools, and data. For more information, call 844.972.6326 or visit woodruffsawyer.com.
