Healthcare insurer Beazley Group has introduced new NutraGuard, a nutraceutical focused insurance product designed to meet the nuances associated with this class of risk.
Developed for nutraceutical manufacturers and distributors, Beazley NutraGuard is applicable for products liability, general liability, errors and omissions (E&O), product recall expense, employee benefits liability, cyber or privacy and hired or non-owned auto insurance.
Beazley nutraceutical underwriter John Livatino said: "With nearly two-thirds of Americans taking some type of nutraceutical product, we saw a real need within the insurance marketplace for a product form tailored to the precise needs of this market.
"Beazley NutraGuard offers a solution that responds to the wide variety of exposures that companies in this industry confront."
The new product is being provided for companies that are active at all points of the nutraceutical industry value chain, ranging from ingredient producers to product manufacturers and wholesale or retail distributors.
The firm’s nutraceutical industry clients include a wide range of organizations, including producers of vitamins and minerals, lifestyle supplements, sports nutrition, cosmetics, personal care and energy products.