As a manufacturer, you hope that you never have to arrange a product recall. After all, the loss to your business is often much more than just the cost of the product recall. Product recall insurance protects you against all possible costs, such as loss of profit, campaigns to restore your image, and more.
From recall to restoring your image
Product recall insurance is an add-on to the liability insurance for business operationsbut the latter will not cover the costs of a product recall. This special product recall insurance covers every product recall, whether it involves defective products or potentially contaminated food, even if you are not legally required to recall the product. The policy offers wide-ranging support and covers both your national and international establishments. As insurance experts, we will be pleased to help you draw up an efficient product recall plan to enable you to act swiftly and effectively in the event of an emergency. Make an appointment here to learn about our approach!
What does it cover?
The actual costs associated with a product recall
Destruction, replacement & storage costs
Trading loss, such as loss of gross profit
Rehabilitation costs, such as marketing campaigns to restore your image among consumers and suppliers
Fees of consultants and experts