A crisis can emerge rapidly and threaten a business, its employees, or customers. While it’s not possible to always prevent a crisis, a business can be prepared for one.
Liberty’s Crisis Management insurance products are designed to provide financial protection and assistance in the event of a product recall and malicious product tampering event or a product withdrawal.
Our experienced Crisis Management team of underwriters is based in Australia and provides comprehensive coverage solutions which can be further tailored with additional covers to protect clients from real-world exposures. If a client has a unique need, we are always willing to take the time to tailor a cover to suit them.
In the event of an incident, our clients have access to a panel of specialist crisis consultants who can provide advice and guidance on the appropriate crisis response. Our consultants and claims team are based in Australia which means decisions are made locally, and we can provide a fast and efficient response.
Contamination in products continues to create havoc for consumers and businesses around the globe. Whether the contamination is accidental or the result of product tampering, Liberty’s Contaminated Product Insurance policy coverage protects all aspects of the food, beverage, cosmetics and pharmaceutical industries.
Our crisis management team supports brokers and their clients through the whole process, from customising cover to handling claims. In the event of a crisis, it is the client’s response in the critical first hours and days that will determine the impact of the crisis on the business. This is when the experience and expertise of Liberty’s Crisis Management consultants is crucial: they can provide advice and assistance to help deal with the crisis at hand and help protect our clients’ brands and business reputation. Our crisis response consultants have 20 years’ experience in the food industry, and Liberty’s claims team has been efficiently handling recall claims since 2009.
At a glance:
In the past food and beverage manufacturers have relied on contaminated product policies, which only offer protection in the event of an incident that could cause bodily harm to a consumer. However, food and beverage production is a fine art and sometimes problems on the manufacturing line can leave a product safe but tasting different or unfit for consumption.
Our SME Food & Beverage Insurance policy has been specifically tailored for the food and beverage industry. Designed to respond to both product recalls and withdrawals, it helps to protect importers, manufacturers, wholesalers, and distributors of finished products from the risk of contamination and the withdrawal of their product, due to a manufacturing error or quality control issue.
At a glance:
The financial impact of product recalls can be highly damaging. In many cases, product recall expenses are excluded under standard product liability insurance policies and so little, if any, cover is provided for a client’s loss.
Liberty’s PRplus insurance policy offers broader protection. Additionally, our PRplus insurance policy can be varied to meet the specific needs of an organisation, including additional cover (such as Product Guarantee) and limits to match exposures.
At a glance:
In the event of a safety or non-compliance issue with automotive components, businesses that manufacture, import, distribute or sell defective components, are responsible for taking recall action. A recall event can be very expensive, and suppliers of these automotive components will be financially impacted.
Liberty offers a PRplus Product Recall policy for automotive components. Customised for individual client’s needs, and with all the benefits of a PRplus product, Automotive Components Recall insurance also includes cover for exports to the USA and Canada, the ability to include product guarantee and covers critical components.
In addition to protection against losses such as recall costs (both retailer and consumer), replacement, refund and repair costs, and consultant advisor costs, PRplus Automotive Components Recall insurance also provides protection against third party financial loss and defence costs.
The costs associated with an automotive component recall event:
Kidnapping can occur almost anywhere, and the list of high-risk countries changes all the time. Apart from the trauma suffered by the victim, the financial and reputational impact on a company can be enormous, and requires skilled handling.
Liberty’s comprehensive solution reduces clients’ exposure and minimises the impact of an incident on staff and operations.
At a glance:
Liberty publishes a regular email newsletter, Recall Monitor, to help brokers and clients keep abreast of the latest Australian product recalls, their locations and their causes.
You can subscribe here to regularly receive the latest edition.
If a crisis that may be covered under one of Liberty’s Crisis Management Solutions Policies is first discovered during the policy period, or within 90 days of the policy period expiry, the insured should:
|1.||Call the Crisis Response Management hotline|
Call +612 8823 1999
For Kidnap, Ransom & Extortion
Call +612 7908 6868
Hotlines are staffed by multilingual specialist crisis response personnel who are able to advise and assist clients through an emergency situation.
All Liberty clients insured under our suite of Crisis Management Solutions are eligible for this service.
You will be asked some questions about the incident and you will need to provide a contact phone number.
Within an hour of your initial call, a crisis response consultant will contact you to discuss with you the deployment decision (based on the type and geographical location of the incident) and the strategy for dealing with the early stages of the crisis.
|2.||Contact Liberty in accordance with the terms of the notice requirements in the policy.|
Fees and charges
Liberty will pay the reasonable fees and expenses of the crisis consultants incurred in response to an insured incident notified by the client.
Even if liability to indemnify is not accepted by Liberty, the reasonable and necessary fees incurred prior to Liberty’s notification will be borne by Liberty.
Where the incident is covered under the policy, but the loss is less than the client’s Self-Insured Retention, Liberty will pay the reasonable and necessary consultant and advisor costs in response to the incident.
Intelligent Risks was established in early 2001 and has grown into a market-leading security, risk, due diligence and crisis management advisory firm. Intelligent Risks support large multinational clients, government agencies worldwide, and leading Australian firms by delivering outcomes that build on best practice and which are adapted to clients’ requirements and capabilities.
The team is led by Neil Fergus who has many years of experience managing crisis events including product recalls, extortion, and malicious product tampering for both the corporate and government sectors.
HACCP Australia is a private company based in North Sydney, with staff located in Brisbane, Melbourne, Hong Kong & London. They have over fifteen years of involvement with the insurance industry in responding to clients' pre-incident and response requirements. They have been in the food technology business for over twenty years, and have many years of "on the factory floor" experience. This extensive experience and knowledge make HACCP Australia one of the most experienced Crisis Management consultants in Australia and a significant addition to the value and expertise our clients can access.
Accidental Contaminations are historically the most common type of claim under a Contaminated Products policy. Being able to provide access to the expertise and experience of HACCP Australia in the event of an incident will help clients better handle these incidents. As part of Liberty's overall risk management approach, the services provided by HACCP Australia are not restricted to incident response - they can also be used before a crisis, in order to help minimise the chance of a problem occurring in the first place!
As one of the most experienced crisis management consultancy firms in Australia, access to HACCP Australia adds significant value for Liberty’s clients.
Kidnap, Ransom & Extortion
Security Exchange consultants have extensive experience in the field of kidnap prevention and response. They are based throughout the three main geographical hubs: Europe, Asia-Pacific and the Americas.
Well-versed in the intricacies of local cultures and fluent in their languages, Security Exchange consultants help ensure a high degree of expertise and communication when attending to clients. The team also offers expert assistance in the related specialist support services: crisis management; crisis communications; government and law enforcement liaison; and trauma management.