A new report released by law firm Lathrop GPM explores the onslaught of risks facing food processors, including cyberattacks.
The report, entitled “Food Processing Trends, Outlook, and Guidance Report,” looks at the risks emerging from the pandemic, and how equipped the industry is to handle them.
Lathrop GPM interviewed 100 agribusiness decision-makers who are active in litigation and risk management issues affecting their companies. It found that food processors have not invested in internal risk management or engaged outside counsel in anticipation of encroaching risk on food safety, workplace rules, and other critical issues. Respondents included chief executive officers, chief financial officers, chief operating officers, chief learning officers, and a range of in-house counsel roles, including general counsel. To qualify, the respondent’s company had to be active in food processing.
Some key findings from the report include:
- Businesses are challenged to return to pre-pandemic operations
- Food safety claims are rising, but preparation lags
- Food processing executives lack guidance from outside counsel on critical issues
- The steps that food processing executives take to protect against risks
- Insurance coverage is in place, but processes and resources may be lacking
Click here to read the full report.