Lettuce Recall

Product Refusal of Coverage: What Is It and Why Is It Important?

Category: Product Recalls

September 12, 2019

Most product recall policies don’t pay for damages when the same type of product being recalled is grown, produced or shipped by another company. Product refusal of coverage is an endorsement that provides financial protection for recalls.

Voluntary Recall

What Is a Voluntary Recall?

Category: Product Recalls

August 19, 2019

Recalls involving defective products are most often defined as voluntary. However, the term “voluntary” can be confusing, creating the impression that a company or manufacturer has decided to recall a product strictly as a precautionary or quality-control measure.

Product Recalls and Reputational Risks

Category: Product Recalls

July 11, 2019

A company’s brand reputation can take years to build — and be damaged quickly in the wake of a product recall.

Out of the top 20 priority reputational risks that every company should monitor, the Reputation Institute identifies five risks that are directly related to product recalls.

Product Recall Insurance

What’s in a Product Recall Policy?

Category: Product Recalls

June 12, 2019

The number of product recalls has increased exponentially over the past 10 years. Unfortunately, when a recall occurs it is often prohibitively expensive, affecting a business both financially and reputationally. Whether your client’s exposure is manufactured goods or food-related products, having the right insurance coverage for every recall situation is critical.

Product Recall Insurance

Are Your Clients Ready for a Product Recall?

Category: Product Recalls

April 24, 2019

Are your clients expecting a product recall? Probably not. But if it happens, transparency, communication and staying positive are good first steps to take. Some valuable information to share with your clients.

Product Recall

Why Product Recalls Are Costlier Now than Ever Before

Category: Casualty, Product Recalls

December 15, 2016

By: David Fiske – Senior Vice President, Worldwide Facilities

No matter how you look at the data, companies across all sectors are more at risk for product recalls than ever—and the cost is rising. In 2014 alone, the National Highway Traffic Safety Administration (NHTSA) issued $126 million in fines—the most in its history.

 

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