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PRODUCT RECALL INSURANCE Managing risks of product withdrawals and recalls

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What is product recall insurance?

Product Recall Insurance is designed to cover the wide range of costs a business faces if a product it manufactures, supplies, or sells is at risk of being dangerous. This could be because it has been maliciously tampered with, it has had a design or manufacturing error, is incorrectly labelled, is subject to malicious threats of contamination, or even due to changes in legislation. Because of this, Product Recall Insurance is particularly popular in the automotive, pharmaceutical, and food and drink sectors, where safety is paramount.

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Product recall insurance golf tees

The implications of a product recall can be far-reaching, impacting not just the financial health of a business but also its reputation and customer trust. Understanding the full spectrum of costs associated with product recalls is crucial. It’s not just about the immediate expenses of withdrawing a product from the market but also the long-term costs related to public relations, brand rehabilitation, and lost profits. A well-structured Product Recall Insurance policy is designed to address these diverse costs comprehensively. 

In the complex scenario of a product recall, time and expertise are of the essence. Our Product Recall Insurance goes beyond just covering costs; it includes the coordination and support of disaster management specialists. These experts play a vital role in managing the recall process, ensuring that it is conducted efficiently and effectively, thereby minimising the impact on your business and customers.

Product recall insurance, or contamination, will only work if the product is potentially dangerous. If it is just faulty, then you will need product guarantee insurance.

What insurance do I need to consider?

Every club, organisation, and race is unique, so no ‘one size fits all’ insurance plan or solution exists. Aside from product recall insurance, there are some other recommended insurance options for your club, such as:

Public Liability

To cover the insured’s legal liability to compensate others for personal injury or damage to their property. Find out more

Personal Accident

Cover that pays a benefit in the event of an insured person’s death, injury or illness. Find out more

Cyber Insurance

Protect your systems, membership details and customer data against cyber threats and breaches. Find out more

Legal Expenses

Provides legal services and covers costs to defend or pursue certain legal actions. Find out more

Kit & equipment

A specialist kit and equipment insurance designed for the sports, dance and leisure industry. Find out more

Employers Liability

Cover should an employee suffer a work-related injury or disease, whether full time, part time or volunteer. Find out more

Event Cancellation

Compensate for any financial loss following cancellation, disruption, postponement or relocation. Find out more

Sports travel insurance

Cover for sports individuals including whilst competing with option to cover winter sports. Find out more

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Mann Broadbent is part of the Sutcliffe & Co. group