PepsiCo successfully resolves a nearly $100 million fire property insurance claim
Clients PepsiCo, Inc.
Jones Day successfully resolved a nearly $100 million property insurance claim for PepsiCo in Brazil. A fire at a PepsiCo snack food plant in Curitiba, Brazil burned the plant to the ground and took approximately a year to rebuild. The claim was adjusted by the IRB, the reinsurance unit of the Brazilian government, which took aggressive positions on coverage and damages. The claim was resolved through lengthy and detailed negotiations with the IRB and with PepsiCo's global property insurer, FM Global.