Now available! Platinum product liability insurance program for dietary supplement companies
The first generation of new, state-of-the-art, best-practices-based liability insurance designed exclusively for the dietary supplement industry, called the Platinum Program, is now available to companies in the dietary supplement industry, with extremely cost-effective coverage and liability-limit levels much higher than previously available—up to $20 million.
This first-of-its-kind insurance program, built on an unparalleled level of understanding and sharing of best practices, is a special project of Chicago-based, wholesale insurance broker RT Specialty in cooperation with the United Natural Products Alliance (UNPA).
The Platinum Program is based on four distinct best-practice principles:
- Insurance risk management
- Dietary supplement industry organizational, regulatory, compliance and analytical standard operating procedures
- External third-party certification
- Oversight of social media and Internet operations
Complete implementation of and fidelity to the integration of these best practice principles can qualify a dietary supplement company for the Platinum Program. RT Specialty and UNPA have collaborated and consulted with industry leaders to define and deliver this innovative insurance program that is designed to advance the quality of the dietary supplement industry.
“UNPA’s mission includes a focus on safety, science and quality—and best practices—by providing both opportunities and incentives for companies to distinguish themselves as leaders in quality and practices. This, in turn, has resulted in the best insurance product ever available to the U.S. dietary supplement industry,” said Loren Israelsen, UNPA president. “An analogy is the 'good driver' discount: proven competence and a good track record give drivers access to superior insurance coverage. The Platinum Program provides best-in-class companies such insurance, as well as a way for them to be identified as best in class.”
For more information and to request an application form for the Platinum Program or to get information about commercial, general and product liability insurance, interested parties should contact their corporate insurance broker or:
Insurance agents and brokers, contact:
Denise Pepin, Senior Vice President
National Life Science Practice, RT Specialty
UNPA members and other interested dietary supplement companies, contact:
(Dick) Griffin, Association Insurance Program Managers
Griffin Insurance Services (GIS)
Platinum Insurance Program in the news:
RT Specialty and UNPA to launch new Platinum Insurance Program for dietary supplement companies
Ethical Naturals joins new Platinum Liability Insurance Program
Genysis Brand Solutions becomes the first supplement company to join new Platinum Liability Insurance Program
About RT Specialty
RT Specialty is an independent wholesale brokerage that provides specialty insurance services, proven leadership, outstanding industry expertise and quality services to retail agents, brokers and insurance carriers worldwide. Backed by its relationships, resources and the trust it has already developed in the marketplace, RT will deliver measurable value to the insurance industry through a national wholesale brokerage platform with offices in every U.S. market.