Products Recall Coverage
Are you covered in the event of a Product Recall?
A number of highly publicized recalls forced a number of changes in the sweeping Food and Safety Act of 2009. Consequently, manufacturers and businesses now face even more rigorous regulations and costly penalties.
What exactly does Product Recall coverage offer?
- Product replacement
- Loss of income from the sale of the product
- Notification and communication expenses
- Loss of reputation and consumer confidence
- Rehabilitation expenses
- Third-party liability expenses
You may think your General Liability policy covers all this. In most cases it doesn’t. What kind of an impact would a recall have on your company? A recent survey shows:
- A majority of the public doesn’t feel the food industry has done enough to follow safe production procedures
- Growers, suppliers and manufacturers should be held legally liable when individuals are fatally sickened by tainted food
- Public feels the US recall process is fair or poor
- 51% of those surveyed would purchase another brand after a recall
At Agri-Services Agency, our Products Recall coverage offers a very competitive rate structure and coverage options, so you can build a policy based on your individual needs.
To learn more about our Products Recall coverage, please feel free to call and speak to one of our dedicated agents as soon as possible.
Contact us today.