"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"
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.
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.