facebookI run an online e-commerce store, selling packaged foodstuffs. What insurance do I need? - Seedly

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Anonymous

09 Sep 2020

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Career

I run an online e-commerce store, selling packaged foodstuffs. What insurance do I need?

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Here's a summary of covers you'll need:

1. Product liability insurance

You'll need product liability insurance to protect yourself against liability from the foodstuffs you sell. Even if you didn't manufacture the food yourself, and you're just a reseller/wholesaler, you can still certainly be held liable if someone gets sick or diseased from the food you provide.

2. Public liablity insurance, with food poisoning extension

This type of insurance also protects against food poisoning caused by the products you sell.

3. Cyber insurance

Because you're accepting payments online, you're vulnerable to having your customers' personal information being exposed by hackers. Personal addresses and credit card information could easily get leaked, causing severe liability for you. According to studies, the typical cost of a cyber attack to small companies in the SEA region is between $200K to $300K.

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