What is Product Recall and Contamination insurance?

Insurance for manufacturers who can fall victim to accidental/malicious contamination or product extortion, any of which may lead to a product recall.

What does it cover?

Ingestible and topical products – products that can be ingested, such as those produced by the food and beverage, cosmetic, pharmaceutical and related industries.  The cover includes:

Non-ingestible finished products – manufactured components or products such as electrical appliances, toys, sports equipment, automotive parts etc.  The cover includes:

• product guarantee, costs associated with replacing/re-covering/re-working products that have failed to perform their intended function due to faulty manufacture, design or installation (after handover to the assured’s client)
• financial losses suffered by the assured’s customers, or third parties, as a result of a loss under the product guarantee section
• product recall.  Costs incurred in recalling products where there has been a failure to perform intended function or threat to cause bodily injury/property damage that may result in the assured being exposed to a legal liability

Consulting services

In addition to risk transfer, we provide comprehensive risk mitigation consulting services including:

• recall & crisis management planning and simulation
• quality control
• legislation compliance audits
• HACCP training
• production line security
• audit of third-party suppliers
• business continuity planning and testing

Consulting is available in conjunction with insurance, or on a stand-alone basis.

If you would like to discuss your requirements relating to recall management and risk transfer, we would be delighted to hear from you.

Please contact us or call and ask to speak to one of our recall experts.

Last updated on 16 August 2007