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Recalls can be a complex and expensive business. A fast and effective recall gives a company
the valuable opportunity to reinforce their commitment to safety, quality and service. In contrast a badly managed recall can lead to
adverse publicity and brand damage.
Our philosophy is to offer traditional insurance with best-in-class consulting services on a pre-incident and response basis.
Products
- recallPROTECT+ for Consumable Products
- recallPROTECT+ for Consumer Goods and Products
- recallPROTECT+ for Suppliers and Component Parts Manufacturers
- restaurantPROTECT+ for Food Borne Illness Insurance for Restaurant Chains
Capacity/Coverage
- $10,000,000 capacity
- Minimum attachment $25,000
- On a lead basis, companies with sales up to $1B will be considered.
- Companies with sales in excess of $1B will be considered with either a significant
self insured retention or on an excess basis.
- No minimum premium (automotive industry products minimum is $25,000).
Highlights of coverage
- Basic policy covers recall costs and consultant costs (unlimited and no SIR applies).
- Customized approach allows policyholders to select "add-on" coverages
such as Loss of Profit, Replacement Costs, Rehabilitation Expenses,
Customer Loss of Gross Profit, and many more
- Access to consultants via a 24/7 emergency hotline
- 10% of net premium offered to policyholder annually to cover loss mitigation costs
Target Risks
- Consumable products include food & beverage companies, cosmetics, tobacco,
pharmaceutical and pet food (excl. animal feed). The target risks can be a supplier of ingredients,
co-packer, processor, manufacturer, bottler, importer, distributor, packager, wholesaler, etc.
- Consumer Goods & Products are finished products in the areas of appliances, clothing, electronic/electrical,
furniture, household, children's products, outdoor, sports/exercise, etc.
The risk can be a manufacturer, importer, distributor, wholesaler, retailer, etc.
- Supplier & Component Parts are manufacturers, distributors, importers,
exporters and wholesalers of components for the general manufacturing and automotive industry.
For the automotive industry, Tier 1 – 4 suppliers only would be considered.
- Restaurant targets are local and regional restaurant chains including franchisees.
National chains will only be considered on a high excess layer.
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Products List
Products
Capacity/Coverage
Coverage Highlights
Target Risks
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