Taco Bell Recall Illustrates Need For Image Insurance.The voluntary recall in September by Kraft Foods Inc. of some 2.9 million boxes of Taco Bell Home Originals taco shells illustrates the increasing market for reputational damage insurance. The environmental group Genetically Engineered genetically engineered adjective Recombinant, see there Food Alert, which was testing a variety of foods for genetically engineered food content, detected the presence of a protein that is associated with a genetically modified variety of corn called StarLink. StarLink corn is approved only for animal consumption and hasn't been tested for allergens. The recall of the Taco Bell shells, manufactured by Kraft Foods Corp., has created a potential for litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . It also has drawn negative attention to the company's brand name. A similar issue arose in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , after 34 people reported that they had drunk contaminated contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. bottled water Although the scare ended when Mayor Rudolph Giuliani reported that there was no physical evidence of tampering, the damage already had been done to bottlers that sold water in the region. The media had shown countless pictures of Coca-Cola and Perrier products accompanied by reports of contamination. In a Lloyd's study of corporate image in the food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. industry, the brand was listed as a corporation's most valuable asset. Chubb Group offers protection for damage to corporate image with its Reputational Damages Liability Insurance product. It's an endorsement to Chubb's liability policy for food processors, suppliers and franchisers. To trigger the coverage, bodily injury must occur. Chubb pays covered losses directly to the claimant, so the policyholder's cash flow is not interrupted. Coverage limits are available up to $10 million, included as a sublimit sub·lim·it n. A limit or ceiling placed on a subdivision of a larger category, especially of nuclear weapons: negotiating sublimits on the number of land-based, intermediate-range missiles. to the umbrella liability policy, for which limits are available up to $50 million. |
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