FMCG

In the Fast Moving Consumer Goods sector, Thailand has a strong output due to its high performance in various areas such as food, drinks and household products. In fact, the COVID-19 pandemic has accelerated the growth of the industry as it has surpassed its pre-pandemic performance. Partly, meteoric rise in the ecommerce industry has played a part but its reliance on the sector for its continued growth is clearly demonstrated.

The food industry is incredibly versatile and its different types of food are alluring to all types of people. It entails multiple stages of development and therefore has varying risks which can be protected with insurance. With production from factories, distribution to retailers and warehouses and customers purchasing online, any errors can severely impact the supply chain and become quite costly. It is also especially important to have care in providing correct information, warning labels and instructions in the packaging, as any misinformation can be harmful to users and lead to lawsuits.

The drinks or beverage industry in Thailand is as innovative as can be as new products are filtered in the market every year. Its fierce competition means that high levels of research is required in order to succeed. Such is the competitive nature in the field, the risks can also be extreme. With constant drive to evolve and produce a a product that stands out, the production procedure is often pushing boundaries. Howver, should any method backfire, insurance will definitely come in handy.

Consumer goods such as household items, consumer electronics, utensils, clothing and nanotechnology devices are products that are used daily and found on store shelves everywhere. Such is the perennial nature of consumption of these goods, the exposures to risk can also be substantial. Products can have defects and can easily cause injuries or contamination, leading to a host of expensive problems. Thus, it is important to safeguard yourself from inflicting further damage by using insurance.

At CHAZ, we are adept at advising you the best ways to fill the gaps in your risk management portfolio. In the FMCG industry, there are always risks, whether it is during production, logistics or consumption. Our team at CHAZ can propose a reasonable price with the risks comprehensively protected.

Through our vast experience, CHAZ Insurance Brokers Ltd. recognizes and understand that each and every business, organization and industry are unique in their own ways and can have completely different risks. Henceforth, the content provided are solely examples of the risks that may or many not be relevant to your business. To learn more, contact us on the form below.