Protection against costly complications
While not purchased as often as other casualty coverages, there are many situations where protection against the expense of recalling a product from the market makes sense. Whether driven by government requirements or the contractual requirements of the end user, product recall insurance offers clients in the consumer product space, OEMs, Pharmas, and others a way to protect the balance sheet against what can be a costly, complicated process.
The Risk Strategies Casualty team has experience working with all of the major insurers to design specific programs based on individual clients’ needs. We’ve placed this coverage for companies across a range of industries, including:
- Component parts manufacturers in automotive and electronics, among others
- Consumer goods companies including finished products such as appliances, furniture, children’s goods, and electronics
- Consumable Products including both food and pharmaceuticals
While product recall insurance coverage gives our clients protection against financial loss from a government-mandated recall due to a specific run of production, it just as importantly allows them to sell with confidence to their customers. Having a knowledgeable partner to design a product recall insurance program also allows clients to easily meet specific product and contractual requirements.
Connect with Risk Strategies Casualty Insurance specialists today.