Financial Lines and Casualty products
Product Recall
Product manufacturers can suffer loss, costs and expenses from recalling a product which, has been accidentally
contaminated and where such product has led or would lead to bodily injury and/or physical damage, or, suffered
from malicious tampering so as to render it unfit or dangerous for its intended use or consumption.
Protection for the
insureds brand their
and products
Coverage
Accidental or unintentional error in manufacturing
Includes in the manufacture, production, processing, preparation, assembly, blending, mixing, compounding, packaging or labelling (including any instructions for use) of insured products.
Accidental contamination of ingredient or component
Introduction into the insured products of a contaminated or unsuitable ingredient or component.
Error by the Insured in the storage or distribution
Of any insured products whilst in the care, custody or control of the insured.
Malicious product tamper
Actual, alleged or threatened, intentional, malicious and wrongful alteration or contamination of the insureds products by an employee of the insured or other person, so as to render it unfit or dangerous for its intended use or consumption.
Product extortion
Threat or connected series of threats to commit malicious tampering for the purpose of demanding ransom monies.
Benefits
Comprehensive recall cost coverage
Covers expenses associated with withdrawing and recalling products, including restoring, repairing, replacing, refunding, and reformulating affected products.
Business protection and financial support
Provides coverage for business interruption, third-party damages, statutory fines, and penalties, ensuring financial stability in the event of a recall.
Crisis and reputation management
Offers key response services like crisis consulting, legal and regulatory support, forensic accounting, and reputation management to help mitigate brand damage and navigate the recall process effectively.
- Food and beverage manufacturers
- Nutraceutical and pharmaceutical manufacturers
- Topical ingredient manufacturers
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Frequently Asked Questions
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