For companies that produce, process and handle food, the stakes have never been higher. Most of the food and beverage companies plagued by contamination, for instance, never fully recover, and nearly half are ultimately forced out of business.
Still, the risks continue to grow – from increasingly complex supply chains, tightening federal regulations prompted by the Food Safety Modernization Act and many types of social media that feed on vulnerable reputations. Add increasingly volatile weather patterns, and the uncertainty tops most industries worldwide.
Many of the shuttered businesses that fell victim to recall in the past four years carried only general liability coverage. But for any chance of survival, a risk management program precisely developed to the needs of each shuttered business might have prevented many closures.
This is why Hylant commits a team of dedicated specialists to its Food, Beverage and Agriculture Practice – from seed and soil to retail racks and every stage in between. Whether it’s farming, processing, supply chain, brewing or distribution, Hylant delves into each client’s business, identifying very specific risks that no checklist can possibly cover.
The process begins with an extensive food safety audit that pinpoints hidden liabilities, looks for exposure gaps and recommends operational changes that can lower premiums and reduce risks. Too often, these issues are not discussed or discovered until there is a problem – and then it’s too late. The Hylant approach is to address these vulnerabilities within the industry or a specific business and consult with our clients every step of the way. Our team of experts collaborates daily to help maintain the security of our clients’ businesses.
Hylant dives in and completes an analysis of each client’s business in areas such as food safety, product recall and reputational safeguards – even weather-related protections such as crop, rain and hail coverage. We work with our clients year-round as risk management consultants. It’s a more immersive approach to an industry riddled with external threats.