LONDON, April 16, 2014 (GLOBE NEWSWIRE) -- Willis Group Holdings (NYSE:WSH), the global risk adviser, insurance and reinsurance broker, today announces the launch of a new product contamination insurance proposition, in partnership with XL Group, Willis Limited's Food and Drink and Faber Global teams, and in association with BRC Global Standards – the world's biggest provider of safety and quality standards programmes for the food and beverages sector.
Recall Shield has been designed with the BRC Global Standards team to encourage and reward higher standards within the food and beverage industry. It is available exclusively to manufacturers that have attained an A or A+ grade against the BRC Global Standard for Food Safety across all of their sites.
Recall Shield includes added protection for companies through XL Group's product contamination insurance offering which includes 'Response XL', a pro-active crisis and risk management service delivered by retained, specialist consultants.
The exclusive scheme, via Willis and Faber Global, offers greater protection with enhanced coverage and a number of additional benefits, including:
- Pre-incident consulting and training workshops from crisis management specialists
- Discounted premiums
- Free BRC training courses
- Free insurance protection audit from the Willis Food and Drink Practice Group
Simon Bridgwater, Willis Food and Drink Industry Practice Leader, commented:
"Improving safety standards in the industry has never been more important, and now businesses that demonstrate a safer environment can also be rewarded with comprehensive insurance coverage and competitive premiums. We hope this will encourage more companies to take protection against these potentially catastrophic events."
Mark Hutton, UK Underwriting Manager – Product Recall, XL Group, added:
"In the food and beverage industry, a product recall can be costly. There are the financial costs associated with replacing and destroying the stock, but also the loss of consumer confidence and resulting loss of shareholder value can prove far more costly. The rise of social media means that news of a recall can spread like wild fire so it is critical that companies have the right support in place. We understand this and wanted our clients to get more than financial risk transfer, so we developed Response XL which provides all our product recall clients with 24/7 access to our specialist crisis, risk and issues management consultants.
"Today, the solution created with Willis, Faber Global and the BRC, rewards companies that understand their risks and display the highest standards of safety with a really compelling insurance solution."
Mark Proctor, Chief Executive Officer of BRC Global Standards, said:
"We are delighted to be partnering with these leading global insurance and risk specialists to offer this exclusive product recall insurance to our A and A+ grade certificated manufacturing sites. We strongly believe Recall Shield will provide enhanced cover and encourage higher standards within food manufacturing."
Willis Group Holdings plc is a leading global risk adviser, insurance and reinsurance broker. With roots dating to 1828, Willis operates today on every continent with more than 18,000 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world's leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Find more information at our website,www.willis.com, our leadership journal, Resilience, or our up-to-the-minute blog on breaking news, WillisWire. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky world.
About XL Group plc's Insurance Operations
XL Group plc's insurance companies offer property, casualty, professional and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit xlgroup.com/insurance.
About XL Group plc
XL Group plc (NYSE:XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. XL is the company clients look to for answers to their most complex risks and to help move their world forward. To learn more, visit xlgroup.com
XL Group is the global brand used by XL Group plc's insurance and reinsurance subsidiaries.
About the BRC's Global Standards
BRC Global Standards are the world's biggest provider of safety and quality Standards' Programs for food manufacture, packaging, storage and distribution. BRC Global Standards are generated with the help of technical specialists, retailers, manufacturers and certification bodies from around the world, so everything is based on practicality, rigour and clarity.
The BRC Global Standards certification scheme offer comprehensive support to help new and established businesses to achieve and maintain their quality and safety aims.
For more information please visit the BRC Global Standards website.