Custom policy helps companies comply with new regulation under Food Safety Modernization Act
New York - Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) has recently launched Transportation Block 2020, the industry’s only fully integrated and comprehensive Inland Marine cargo insurance product, complete with risk management services. Specifically, it features new cover for a wide spectrum of transportation exposures, including those recently created by the FDA’s Food Safety Modernization Act (FSMA). Now, transportation providers can find protection for goods that have not been directly physically damaged, but have been deemed adulterated due to new stricter transport or storage requirements.
“As the Federal Motor Carrier Safety Administration, The Federal Highway Administration and the FSMA implement sweeping changes across the trucking and rail industries, AGCS has responded with solutions engineered by industry veterans who understand the evolving challenges facing transportation and logistics companies,” said Sam Rizzitelli, Transportation Practice Leader, Americas for AGCS. “Our new product comes to market at the right time and we’re excited to offer our clients much-needed protections within a single form at a reasonable cost.”
As part of Transportation Block 2020, AGCS clients have access to risk management support services offered by professionals and legal consultants specializing in transportation cargo risks. They will also benefit from AGCS’s partnership with AFIMAC, a global security firm, and Freightwatch, an international leader in security services for loss prevention, theft tracking and recovery.
“As the FSMA compliance deadlines approach, companies are struggling to keep up with the required guidelines and exposures affecting the entire food supply chain. We’re here to help our customers digest and follow the legislation as quickly and easily as possible,” Rizzitelli explains. “The industry has drastically changed in a short period of time and the cargo policies drafted just five years ago are becoming ineffective and obsolete. We owe it to our business partners to keep up with evolving risks and are working to meet the next wave of challenges as well.”
Building on the strength and technical expertise of its dedicated transportation claims division and broad capabilities, including motor truck cargo, contingent cargo, auto physical damage, warehouse legal liability, equipment and property risks of all kinds, AGCS assembled its dedicated North American Transportation and Logistics unit in Q4 of 2015. Led by Rizzitelli, this new group offers more than 150 years of combined total underwriting experience and is well positioned to succeed with its expansive geographical footprint across North America.