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Systems and methods for insuring stored food

  • US 8,069,068 B1
  • Filed: 06/05/2009
  • Issued: 11/29/2011
  • Est. Priority Date: 06/05/2009
  • Status: Active Grant
First Claim
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1. A system for issuing an insurance policy on food, the system comprising:

  • at least one computing device with a processor and a memory having instructions stored therein that are executable by the processor to;

    receive information about said food;

    receive information about how said food is to be stored and rotated;

    receive underwriting data that describes a loss experience associated with a type of said food, wherein the loss experience identifies the way in which said food is to be stored and rotated;

    determine a premium of said insurance policy based on said received underwriting data, a type of food to be covered by the insurance policy, and a manner in which said food is to be stored and rotated;

    issue said food insurance policy;

    issue an alert to a policyholder of said insurance policy, said alert advising said policyholder to rotate said food by replacing said food with new food;

    receive, from said policyholder, a confirmation that said food has been rotated; and

    in the event of a claim for loss or damage to an item of food that is covered by said food insurance policy, issue a card or certificate that is redeemable for a food item commensurate in value to the item of food that that was lost or damaged.

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