AHPA endorses new liability insurance

AHPA endorses new liability insurance

Data about dietary supplement claims over the last 10 years have shown they are few in frequency and low in severity, making supplement companies a safe, low-risk class for underwriters to insure.

The American Herbal Products Association (AHPA) has endorsed a new general liability insurance program designed specifically for supply side businesses in the natural products and dietary supplement industry.

The RT-Nutra Program offers coverage for commercial general liability, products, and completed operations liability to manufacturers, distributors, contract manufacturers, and importers/exporters of natural products and dietary supplements. It is underwritten by Lloyds and has an AM Best rating of A (excellent) XV.

Traditionally, insurance underwriters in the United States grouped the dietary supplement industry within the larger "health science" industry, effectively making the supplement industry a more difficult class to insure. However, data about dietary supplement claims collected over the last 10 years have shown that supplement claims are few in frequency and low in severity, making supplement companies a safe, low-risk class for underwriters to insure.

R-T Specialty LLC developed the program with the advice and assistance of AHPA staff and other supplement industry experts and is offering this program to industry members.

"AHPA is proud to continue to endorse RT-Specialty, Grifcon Enterprises and program manager Dick Griffin, and the new RT-Nutra Program," said Michael McGuffin, AHPA president. "Having access to an insurance program that is no longer grouped within the health science industry will offer both AHPA members and other companies a new option for their insurance needs."

For more information on the RT-Nutra Program, download the program fact sheet, or contact Dick Griffin, insurance program manager, 916.434.8874.

 

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