Product Recall
Product Recall and Contamination insurance reimburses costs incurred to recall a product and replace it in the market place with a safe one. It also provides expert assistance and advice during this process.
Catlin is a market leader in Product Recall and Contamination insurance and our underwriters take a flexible approach when understanding clients’ needs.
Product recalls are occurring more frequently and often receive media attention. A poorly handled product recall can have a catastrophic impact upon brand reputation, an organisation’s assets and even their ability to continue trading.
Find out more about Product Recall
Policy coverage
Coverage can include accidental contamination (up to USD25m / GBP12.5m) and malicious product tamper/product extortion (up to USD50m / GBP25m).
We also cover:
- recall costs
- pre-recall expenses
- Business Interruption / loss of gross profits
- rehabilitation costs
- third-party recall costs
- extortion demands.
Cover is on a ‘claims made’ basis.
Our clients
Our clients fall into two categories.
1. Food & drink
- Manufacturers, processors, distributors and retailers of topical and ingestible products
- Food, beverage, restaurants, cosmetics, pharmaceutical (OTC), tobacco
2. Non food consumer goods
- Finished goods manufacturers of consumer products (not component parts).
- Toy and child-related products, sports and recreational equipment, household appliances, home electrical equipment, garden tools and products, packaging and containers, tools.
We are not able to cover component parts.
We look to insure clients with good risk management procedures in place. As part of the underwriting process we will commonly require copies of quality assurance manuals, recall plans, and crisis management plans.
We work with crisis consultants who are available to assist our policyholders. Consultants are introduced shortly after policy inception and, during a crisis, they can work on-site with the policyholder to help pinpoint the source of the contamination or outbreak.
In the event of a product recall most companies quickly find themselves immersed in a full scale crisis and our 24 hour crisis response line is available for help and advice.
Product Recall consultants
We work with several consultants to provide the best possible service.
RQA delivers world class services to the food, beverage, personal care and consumer product industries, providing solutions from concept to consumption.
RQA respond to our North American domiciled clients for product recall issues.
Security Exchange is an independent security management company dedicated to the provision of specialist consultancy on a worldwide basis.
Security Exchange support the corporate, private, affinity and insurance markets through effective contingency planning, the provision of security information, crisis management and 24/7 response.
Security Exchange are able to assist globally to advise and assist on situations involving product recall, malicious tampering and extortion.
Fleischman Hillard provide crisis PR response and assistance globally.
