How to Manage the Fallout From a Product Contamination Event
Several large food and beverage companies have recently experienced significant financial losses from product contamination events that resulted in litigation, criminal charges, or reputational damage. Some have even been forced out of business.
Though insurance such as general liability coverage can help mitigate the potential costs of a class-action lawsuit, it may not be the sufficient to cover the total costs of a product contamination. The largest cost of a product contamination incident is not necessarily related to bodily injury, but to the loss of consumer confidence, customers, and revenue.
In the latest issue of our Food for Thought newsletter, we cover:
- Key components of a food-response management plan.
- The importance of evaluating your partners and suppliers, understanding how they operate, and ensuring that they have the right insurance and risk management strategies in place.
- Crisis communication in the age of social media.
Download the PDF to read the full article.