VIKAN CLEANING TOOLS DELIVER SAFER OUTCOMES body, the Society of Food Hygiene and Technology (SOFHT), recently awarded Vikan UST brushware top of the annual Best New Product or Service award in Europe. Vikan’s exclusive distributors in Australia and NZ (W R & D Wells and Wells Hygiene) have taken delivery of the first shipment of Vikan UST brushware. For further information contact (09) 263 9332 or sales@wellshygiene.co.nz. www.foodtechnology.co.nz 19 EXCITING BRUSHWARE ARRIVES IN NEW ZEALAND: Vikan AS in Denmark now offers a revolutionary new design in food grade brushware called ‘Ultra Safe Technology’(UST). With global food safety standards increasing all the time, Vikan UST brushware exceeds all safety requirements without the use of non EU Food Contact-approved resins as found in some brushware. Through an ingenious design of ‘Filament Security Units’, the brushware delivers the most secure filament retention available, as the product is effectively a one- piece hot moulded brush (handle and filaments). The clever spacing of the bristles / filament security units make the product extremely easy to clean and sanitise, and all products have been validation tested. Furthermore, the British Food Safety peak FT307 3415 Wells_NZ Foodtech Advertisement_102x140mm_UST_FA.indd 2 31/05/2017 12:06 PM transport routes are closed for extended periods as has happened in the South Island after the Kaikoura earthquake. And global events can also disrupt business for food exporters. So, it’s not just what can happen with your own business that matters, though that’s the best starting point in doing a risk analysis. Risks like staff turn-over, skill shortages, the impact of competition or falling demand for product are ones you manage without recourse to insurance. Business interruption (BI) generally responds when there is material damage to your premises resulting in loss of gross turn-over. BI covers the loss of turn-over, so insurers need access to past financial accounts to determine the loss. There is typically a stand-down period which could be as short as a week or a month before the BI cover applies. The shorter the period, the higher the premium. Some businesses may look to get consequential BI cover that can be needed even though their premises may be undamaged. Consequential BI cover relates to damage to key supplier’s premises or even the supply of electricity or gas. Road closures due to damage or access to their premises may also be denied due to cordons when there is surrounding property damage. This type of cover is far more limited and normally provides cover up to 10% of the loss in turnover. This more limited cover can arise for many reasons that insurers would be unable to calculate the risks to price the cover, hence its limits. This is where a good business continuity (BCP) plan kicks in, recognising the limits of insurance cover. Any BCP should identify other areas of risk where insurance may provide part of the solution. If you’re thinking natural disaster, then earthquake insurance typically has a 5-10% An example of tools available to food manufacturers is AIG’s NOVI for food and beverage manufacturers around the world. It is a free online tool that allows businesses to assess what their financial exposure, or their largest probable loss, would be should they be faced with a product recall. AIG’s methodology is based on an extensive analysis of thousands of recall incidents, insight from more than 25 years of interaction with food and beverage manufacturers worldwide, and input from leading food safety consulting companies. deductible on the property sum insured before insurance pays out, and there will be a time deductible on the business interruption claims of between seven to 30 days. There’s a wide range of other protections. Product liability would be a key one to consider in the food industry, as might be the risk posed by environmental pollution or bio diseases. Product recall liability should be considered as it could cost hundreds of thousands to recall faulty products from around the country or even from around the world. Most businesses need to think about not only damage to their own property but damage they may cause to others’ property. Business owners may also want to consider professional indemnity for actions that may cause loss to others, and directors also need to be protected for their acts and omissions. Sadly, employee theft and fraud - while very small-scale - can also be a vulnerability to think about. And these days all business must be aware of cyber-attacks for which there is specific insurance cover too. A cyber insurance coverage can be very important.
FT-Jun17
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