Products recall
Brand image is one of the most valuable assets a business possesses, and the likelihood is that considerable time and money has been invested to build a good name with consumer customers.
Together with underwriters we have developed a tailored policy that helps companies protect the value of their brand assets.
Products recall delivers insurance protection against the financial costs of recalling products, and professional crisis management consultancy.
Losses covered by products recall include:
- Expenses of crisis link consultants, before and during the event
- Recall expenses such as transportation and destruction / re-working of the product
- Product rehabilitation (sub-limited to 25% of policy limit)
- Gross loss of profit or net loss of profit, as purchased
Coverage is provided for:
- Malicious contamination, triggered by actual or potential bodily injury
- Accidental contamination
- Extortion
Target products
Limits immediately available up to US$20,000,000 for 'short shelf life' products - mainly food and beverages. Excess limits are also available for over US$20 million.
The following are a list of classes of preferred risks that underwriters are in a position to quote on:
- Cereal / bakery (excluding GMO)
- Confectionery / snacks
- Seafood
- Dairy
- Bottling
- Fruit / Veg
- Sauces
- Household (cleaning products)
- Nutritional health products (non FDA regulated)
How we work
Other insurance professionals around the world can access this special facility, or we can work directly with clients.