Product recall situations present real threats to manufacturers; maintaining key business relationships, restoring production and protecting cash flow is absolutely vital. Skilful handling of a recall not only minimizes any damage caused by a defective product, but also demonstrates reliability and professionalism to important wholesale and retail connections – which are essential components when the time comes for speedy redistribution and remarketing of the product.
Certain industries such as food, drink, cosmetics, pharmaceuticals and tobacco products manufacturers are susceptible to contamination, both by accidental means and by deliberate interference through malice for financial or political gain. Such incidents are increasingly common and, when they occur, attract media interest which can have a disastrous impact on the public’s confidence in the affected products. Considerable costs can be incurred in recalling and replacing the damaged products as well as rebuilding tarnished brand reputation.
We are the market leaders for both Product Recall and Contaminated Product Insurance. Our tailor-made policies provides essential protection against the direct and indirect costs of a product recall together with crisis management planning, assistance and loss prevention services through our network of pre-approved consultants.