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Product Recall insurance covers the costs of recalling a product from the market and replacing it with a safe substitute. It also provides you with expert support and advice on how to manage a product recall.
Any business that manufactures, distributes or sells toys, household appliances, foodstuffs, beverages, pharmaceutical products, tobacco, cosmetics… the list goes on, but if your reputation depends on the safety and quality of the product you handle, you should consider this insurance. Product recalls can be unavoidable but a poorly handled situation has on many occasions resulted in a catastrophic loss of confidence in a brand.
Having this cover in place provides you with 24 hour access to experts in the field of crisis management who will help you in every aspect of managing the recall, including dealing with a potentially hostile media. You can rest assured that should you be faced with a product recall you will be in safe hands and the very high costs of dealing with the recall will be covered by your policy.