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The threat of a product recall is becoming increasingly prevalent for many industries. Whether voluntary or involuntary, a product recall can be very costly – not only to a company’s balance sheet but also to its brand reputation. A product recall can affect all companies involved in the commerce chain, including processors, distributors and retailers.

RecallResponse™ offers the flexible coverage to protect a company against this risk. Each policy is tailored specifically for each client based upon individual needs and considerations, including quality control measures, past recall history, packaging processes and current recall protocols.

Features & Benefits

Market Commitment

  • Risk appetite
  • Unwavering capacity
  • Unique expertise
  • Decades of experience

Claims Capabilities

  • Dedicated service centre
  • Proven specialist network
  • 24/7 availability
  • Best-in-class crisis response

Expert Consultants

  • Pre-incident training
  • Global reach
  • Unmatched value-add
  • Educational Resources

Coverage

  • Extensive coverage is provided for a product recall that results in, or creates a threat of bodily injury or property damage

  • First-party covered recall expenses include:
    • Cost of notifying customers of a recall 
    • Cost of shipping and disposing of the recalled product 
    • Extra warehouse expenses 
    • Costs associated with refunding, repair or replacement and shipment of a new product back to the customer
       
  • Third-party compensatory damages contractually required to pay a distributor or purchaser of a recalled product are also covered

  • Third-party covered compensatory damages include:
    • Cost of repair of the third-party’s product
    • Business interruption caused by the recall
    • Damage to the brand reputation of the third-party
    • Defence costs incurred as the result of any claims made arising from the product recall 
       
  • Additional coverage enhancements are available upon request, including coverage for the costs associated to refund, repair or replace a product and the costs associated with impaired property

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