Products Liability and recall
Products liability and recall insurance covers expenses that result from having to recall a product from the market.
Why Products Liability & Recall Insurance is Important
To cover costs associated with the recalls of consumer products, consumer goods or component parts due to:
- product tampering;
- human error;
- poor manufacturing, design or packaging and
- any increases in usage of the global supply chain.
Common Products Liability & Recall Coverage Topics:
1: Offer to review the vendor agreement.
2: Understand any supply chain management processes.
3: Offer carrier or internal safety solutions.
4: Avoid generic sales pitches.
5: Prepare to read a financial statement and calculate a ROI.