Whether you are a manufacturer, processor or distributor of goods, you should have Product Recall Liability insurance. A Product Recall policy protects your business from the significant financial and reputational costs associated with a product recall.
With recalls in Australia on the rise in 2016, the importance of Product Recall insurance is increasing.
Whether it be products like food, beverages, smart devices, electrical equipment, cabling, cars, clothing products or household appliances the product recall process doesn’t come cheap, and could be highly damaging the reputation of even the largest companies.
A Product Recall policy is there to cover you for the costs associated with a product recall:
Product Recall will look to significantly reduce the impact a product recall can have on your business, allowing you to make decisions for the future of your business with greater confidence.
Please note: This is a general description of cover only – full details are set out in the Policy wording