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Product Recall Insurance: Defective Products
Overview:  Protects manufacturers of consumer goods from the devastating effects of recalls; covering the key expense areas and also providing the expertise of independent recall consultants to guide the company through the critical first few weeks of a product recall.

Who is it For?:  Product Recall Insurance is intended for manufacturers, distributors, wholesalers or retailers of a wide variety of finished products and component parts.

Manufacturers of food, drink, cosmetics or other ingestible or topical products should consider our Contaminated Products insurance.

Product recalls present real threats to retailers and manufacturers: loss of sales, customer confidence, hard-won retail shelf space, and supply contracts. Skilful handling of a recall can minimise damage demonstrating reliability and professionalism to wholesale and retail connections. Our Product Recall Insurance for defective products covers the key expense areas and also provides the expertise of independent consultants to guide the company through the critical first few weeks of a product recall.

Cover Back To Top

Cover is triggered by the recall of a product including a government recall caused by:

 

·                        A defect in the product

·                        Malicious product tampering

·                        Product extortion

 

Provided that the use of the product has the potential to cause bodily injury or damage

 

Cover Includes

·                        The Insured’s recall costs

·                        The costs of replacing the defective product

·                        Consultants’ and advisors’ costs

·                        Loss of insured’s gross profit

·                        Product extortion costs

·                        Defence costs

·                        Brand rehabilitation costs

·                        Third party recall and replacement costs