Vitamin and nutritional supplement manufacturers, importers, distributors and wholesalers have unique exposures due to the varying ingredients and use of the products. Third party bodily injury claims, judgements and defense costs can be financially devastating to a company. Having adequate general and product liability coverage is essential for those in this industry.
Companies selling both domestically and internationally have created additional exposures that need to be addressed. Will the policy only defend you in the United States or does it provide worldwide coverage?
Veracity Insurance Solutions provides worldwide comprehensive insurance programs for companies in the vitamin, supplements, and nutraceutical industries. Veracity’s exclusive nutraceutical insurance program offers some of the broadest coverages available on the market. Working with our team and in-house underwriters, we can help you navigate through the underwriting process.
Veracity’s exclusive nutraceutical insurance program offers some of the broadest coverages available on the market and covers emerging markets, such as CBD/hemp.
Veracity is your vitamin and supplement insurance solution.
- Most Ingestible Supplement, Herbal, or Vitamin Related Products
- Compounded Herbs
- Non-Compounded Herbs
- Energy Supplements
- Protein Supplements
- Body Cleansers
- Bodybuilding Supplements
- Topical Creams
- Weight Loss Products
- CBD/Hemp Ingestibles
- Start-ups and New Ventures Welcome
- Minimum Premium - $2,500
- Minimum Deductible - $2,500
- Limits up to $25 Million
- “A XV” rated paper
- Manuscript Endorsement
- Worldwide Coverage
- Additional Insured Endorsements
- Product Withdrawal Expense
- Pollution Legal Liability
- Employee Benefits
- Privacy/Data Breach
Why Vitamin and Supplement Insurance?
In 2008, the makers of a vitamin and herbal remedy formula settled a lawsuit for $23.3 million for allegedly touting the product as a cold remedy.
In 2014, the makers of a weight loss product agreed to pay $26.5 million to settle alleged unfounded weight-loss claims and false endorsements.
In 2015, the New York Attorney General announced an investigation into generic herbal supplements sold at four major retailers in the United States and ordered these companies to stop selling certain popular herbal supplements products because of alleged misleading information.