Buildings Insurance protects your business premises should it be damaged by fire, flood, burst pipes or storms…
Your business could incur significant costs if one of your products needs to be recalled, removed, or re-worked, including advertising in the national press, or destroying and discarding the faulty component in line with relevant laws.
How would your business cope if the media turned up on your doorstep following reports that a product you supplied was faulty/contaminated?
Unfortunately, Product Liability insurance does not necessarily protect your business if it is subject to a product recall. Therefore, Product Recall insurance cover is vital to protect your business for the costs and expenses of recalling your products.
All businesses face unique risks and there are a range of Recall policies to suit various industries. Please get in touch with our expert team to ensure your business has the correct cover in place.
WHAT CAN BE COVERED:
The costs of removing, repairing, or replacing products that have failed to perform their intended function.
Consequential losses suffered by customers of the Insured and/or third parties because of a defective product supplied for which the Insured is legally liable.
Recall expenses including inspection costs, destruction costs and slotting and re-slotting fees
Rehabilitation of brand including Public Relations assistance, promotional offers, sales and marketing expenses and advertising costs
Crisis consultancy cover with no deductible
Please note the above is a summary of different types of policy not all the bullet points are available under one policy.
"Specialist Risk, formerly known as Miles Smith Insurance Solutions, staff are friendly, extremely approachable, responsive and very much work with us, allowing us to get on with the day-to-day running and growth of our business"
Belfield Group
Group Finance DirectorOTHER COVERS
Contents and Stock covers the cost of replacing stock, equipment and other goods following an incident…
Contingency cover protects you should you suffer financial losses from an issue at an event such as last-minute cancellations…
Contract Works covers builders and tradesmen for any work in progress on a building site that is damaged…
Contractors All Risks protects employers and contractors for loss or damage to a building site that you or your team…
Crime cover protects you from both internal and external fraudulent activities, helping to get your business up and…
Directors’ and Officers’ provides financial protection for the potential defence and damage costs for the leaders…
Employers’ Liability, Public Liability and Product Liability are key to protect your business against the diverse…
Employment Practices Liability covers employers for claims made against them by employees that allege discrimination…
Environmental Impairment Liability provides cover following an incident that causes pollution on land…
Goods in Transit insurance provides cover for theft, loss, or damage of goods whilst they are being transported…
Jewellers’ Block protects businesses that sell high-value or unique jewellery or carry out regular valuations…
Landlord’s Contents covers insured furnishings in your rented property should they be damaged by tenants…
Latent Defects covers the cost of remedying and rectifying damage caused by faults in design, construction…
Legal Expenses protects you and your business by covering the cost of taking or defencing legal action should the need…
Legal Indemnity is typically paid for by the seller of a property and protects the purchaser against issues…
Loss of Licence covers the costs that are incurred if your alcohol licence is revoked by your Local Authority…
Machinery and Plant is a vital cover to protect necessary plant and equipment used by industries such as…
Marine Cargo cover protects businesses that are responsible for transporting goods both domestically and…
Our combined Material Damage and Business Interruption cover provides businesses with full protection…
Medical Malpractice protects healthcare professionals against allegations of clinical negligence and medical…
Personal Accident and Travel cover protects a business’s directors, partners and/or employees if they suffer…
Product Recall covers the reasonable and necessary expenses of recalling and replacing products where…
Professional Indemnity covers the legal costs and any resulting compensation payments if a client alleges…
Terrorism cover protects a business and its ability to continue trading following a terrorism incident…
Trade Credit protects a business if a customer owes money for products or services and does not pay their debts…
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FAQS
Where is Specialist Risk Insurance Solutions located?
Our head office is in the City of London, the address is:
One America Square, 17 Crosswall, London, EC3N 2LB. We also have offices in Croydon and Ampthill, Bedfordshire however we are currently working remotely due to COVID-19.
Does my trade fall within Specialist Risk’s appetite?
We work with all types of trades across a multitude of industry sectors. Please call us to discuss your specific needs and our expert team will be happy to assist.
