Insurance Types » Product Recall

Product Recall

Why Do You Need Product Recall Insurance?

As a business owner involved in Manufacturing and Production, your company could suffer potentially devastating effects following a Product Recall. Apart from the financial costs incurred resulting from the Product Recall, the lasting negative impacts reputational damage from such scenarios have on the Brand Perception and Goodwill is often overlooked. Regardless of whether it was accidental or malicious product contamination/malfunction, Product Recall Insurance is designed to protect companies against the a wide range of financial loss scenarios and unexpected expenses potentially incurred in the process.

What Protection Will An Product Recall Insurance Provide?

Typically, events that can be insured by Product Recall Insurance include but are not limited to:

  • Accidental Contamination
  • Malicious Contamination or Tampering
  • Use of faulty ingredients or materials
  • Government Recall/ Changes to National Regulatory Requirements or International Health Standards
  • Product Extortion

For further clarification, please feel free to reach out to our insurance professionals for a free consultation so we can ensure that you and your business receive the best possible covers.

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