XL Group, an insurance and re-insurance company, has upgraded its Up+Running equipment breakdown coverage to boost protection against food processing and cold storage risks.

Designed specifically for cold storage facilities, meat, dairy, fruit and vegetable processors, the enhanced Equipment Breakdown cover provides additional coverage for expenses to reduce a perishable goods loss and expenses to properly dispose of contaminated product.

In addition, it offers protection against financial losses that result from the breakdown of equipment and result in business interruption, equipment repair, or replacement costs

Features of the improved cover include an expanded definition of covered property such as non-owned product which clients may have a contractual obligation to insure and product stored in refrigerated trucks or trailers while at a covered premises.

It also includes indemnification for perishable goods losses caused by power interruption and broad valuation for property of others in the insured’s control and selling price for finished stock.

XL Group senior vice president and equipment breakdown business head Brian Strain said, "Ironically, our new enhancement offers stronger perishable goods coverage because of what it doesn’t have, namely restrictions.

"While many policies have a waiting period applied to spoilage damage resulting from an interruption in power, our enhanced coverage has no such restriction," Strain added.

"Nor does it have restrictions if our customers’ products are stored at locations that are owned or controlled by others; or restrictions controlling damaged merchandise."