Product Recall & Contamination
Manufacturers, co-packers, assemblers, re-sellers and distributors will frequently look to insurance for mitigation against a number of potential perils. In selecting their insurance provider for product contamination, whether accidental or malicious, one feature that differentiates between various class insurers is the support they provide to clients by giving access to a retained consultancy. Small to medium-sized enterprises are unlikely to have the in-house knowledge and experience to navigate through a complex product recall or investigation due to extortion or malicious contamination of their products.
Security Exchange is one of the most experienced risk management companies with global teams of experts ready, 24 hours a day, to assist you should you experience a product recall event. Our service is provided by the insurer as a benefit and, in addition, we are available to you to help you to prepare, mitigate, respond to and recover from an incident. Our teams will assist you through the crisis, helping you to avoid costly errors that could affect your claim or impair your brand.
The following security Exchange video provides an informative overview of Product Contamination, the inherent risks and the services we offer our clients:
In some cases, the insurer will also fund mitigation work, carried out by us with you, to ensure that you are prepared for a crisis event. This additional funding varies from insurer to insurer and, if not used during the policy year, is simply lost.
Security Exchange has prepared a number of service offerings to give you, the client, the widest selection possible. Many products are informative and require no person-to-person involvement, whilst others will involve designing whole response procedures and testing the efficiency of the process. These pages provide you with examples of the type of services we can offer our clients.