Product Recall Insurance

Product Recall Insurance is designed to cover the costs associated with recalling defective or unsafe for the consumers products from the market.

A recall may be ordered by the Authorities or decided by the product manufacturer (or seller). Insurance provides for incurred expenses to withdraw/dispose the products from the markets and produce new -safer- products but also for communication and legal fees.

This type of coverage is especially important for businesses in manufacturing, retail, or distribution, where even a minor product flaw can lead to significant safety risks. In a fast-paced market, product issues can arise unexpectedly.

Having Product Recall Insurance in place, ensures that your company can act fast and minimize both the financial loss and reputational damage. It also shows that you take consumer safety seriously, which helps maintain trust with your customers and partners.