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KRAUTER & COMPANY specialty programs FOOD BORNE ILLNESS UNDERSTANDING FOOD BORNE ILLNESS ccording to the CDC, there are over 76 million Food Borne Illness cases reported in the US each year. Of these cases, there are hundreds of thousands of hospitalizations and thousands of deaths that occur. The CDC states that there are over 200 known diseases that are transmitted through food, which cause symptoms ranging from mild gastroenteritis to life threatening hepatic, neurological and renal syndromes. While the majority of the aforementioned cases remain local concerns and are quickly remedied, certain more serious occurrences, whether true or alleged, cause disastrous financial ramifications to the particular franchised restaurant or restaurant chain and taints their Trade Name. According to PEW Charitable Trust the annual costs related to Food Borne Illness is roughly $152 billion or roughly $2,000 per case. What this number does not take into account is the lost revenue that results from such occurrences. Studies have shown that revenues drop from 60% - 80% once the news of an outbreak occurs and can take over six month to reach the pre-outbreak revenue levels. WHY KRAUTER FOOD BORNE ILLNESS? Surprisingly, many corporate treasurers, controllers, and risk managers aren’t aware that general liability or property insurance policies do not include the coverages necessary to for business interruption or loss of income resulting from food borne illness incidents. The general liability policy may provide third party coverage for the injured patron, but neither policy provides coverage for lost revenue, business interruption, additional expenses, and/or crisis management services. Krauter & Company is pleased to introduce a one-of-a-kind Food Borne Illness / Trade Name Restoration Program, through partnership with PLIS and Specialty Risk Management, Inc. (SRM) Crisis Management. This program combines the specialized resources of two industry-leading firms to offer a program with unrivaled coverage, which includes the “gold standard” in crisis management. While other carriers may offer a similar product, Krauter & Company’s program includes enhanced coverages such as: Workplace Violence Coverage Inoculation Coverage No 10% waiting period to trigger coverage Full Policy limits for adverse media coverage 18 month rehabilitation /restoration period Reduced rates A KRAUTER & COMPANY specialty programs Unlike products before, this product includes Specialty Risk Management, Inc.’s (SRM) renowned crisis management services. SRM’s dedicated team manages crises 24 hours a day, seven days a week - from the moment of outbreak to incidence closure. SRM’s track record is impeccable – 95 percent resolution record with no media involvement. Additionally, Krauter & Company’s loss control professionals work closely with SRM to identify and address incident catalysts. MORE INFORMATION? CONTACT US. For more information regarding specific advantages of the Krauter Food Borne Illness Program, please send your request to info@krautergroup.com.
