What is product recall insurance?
Product Recall Insurance is designed to cover the wide range of costs a business is faced with if a product it manufactures, supplies, or sells, is at risk of being dangerous. This could be because it has been maliciously tampered with, has had a design or manufacturing error, is subject to malicious threats of contamination or even due to changes in legislation.
The cost to your business should you be compelled to recall a dangerous product can be vast. A comprehensive product recall policy will cover the costs of recalling the product (including from down the supply chain), replacing the product, lost profit, public relations and brand rehabilitation – all co-ordinated by a disaster management specialist.
Product recall, or contamination, will only work if the product is potentially dangerous. If it is just faulty, then you will need product guarantee insurance.
REQUEST A QUOTE