PRODUCT RECALL
Insurance to cover manufacturers and distributors for costs associated with product recalls.
What is a product recall insurance, who is it for?
A product recall is potentially the most perilous situation a company can face. One incident can have a catastrophic impact on profits, undermine your company's prominence and estrange customers.
As supply chains grow more intricate and the regulatory authorities are becoming more vigilant, as a manufacturer, retailer, or wholesaler your risk level is multiplying daily. Whilst we can hope against, a product recall is something that we cannot afford to overlook due to the strain it puts on your company’s operations and finance. Corporate risk management is increasingly devising strategies to tackle the adversity of product recalls as it occurs more frequently than you might think and they can be tiresome, pricey, and leave a dent on your business.
Our specialists can guide you through the nuances of product recalls and assist you in choosing an accurate coverage considering the nature of your business and the risk exposures you are susceptible to.
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