Managing a recall event carefully and quickly is critical to limiting the impact to consumers as well as the manufacturer’s own business.
Explore our product recall products to learn more
Product recall cover for consumer products to automotive parts. Covering rectification costs, loss of sales, ancillary costs, and reputation protection for a variety of recall scenarios including cyber product tamper and software product safety
Comprehensive cover for a variety of industries and recall scenarios, ranging from product guarantees and contamination events to cyber product tamper.
Often, the most challenging and expensive part of a recall is keeping the business operational while facing intense public and regulatory scrutiny. Here are some of the most common costs associated with a product recall.
Identifying the issue
• Internal or third-party testing
• Employing experts / consultants
• Closing facilities or suspending production
• Cleaning, fixing or replacing equipment
Conducting the recall
• Issuing notices to consumers
• Transporting, storing, destroying or disposing of affected products
• Replacing ingredients, materials or products
• Retailer per store fees
• Overtime for employees
• Crisis communications & PR
• Ongoing loss of sales or customers
• Cancelled contracts
• Replacing suppliers or hiring contract manufacturers
• Prolonged interruption of production
• Stalled R&D, M&A or other investments
• Impact of brand & reputational damage
Meet the team
- Michael Capleton
- US Product Recall Team Leader
What does CFC's product recall policy cover?
Product recall insurance helps safeguard a business from the financial impact of a recall, specifically the first and third-party costs associated with identifying and addressing the issue, conducting the recall and keeping the business operational.