During the last years consumers became more and more aware of the dangers of products and the requirements of governments and buyers are strengthened. The globalization has led to a more complex supply chain that is difficult to manage. Products are often pulled out of the distribution chain and the financial consequences of product recall increase. A recall action does not only entail financial consequences, but also loss of the value of the recalled products, loss of turnover and market share and defamation of the company reputation.
AIG offers a wide range of cover possibilities in the case of a product recall, following accidental or intentional contamination. This insurance meets financial losses entailed by a recall action. The insured person can enjoy also assistance and advise from specialised recall consultants, loss control engineers, incident response support from consultants of NSF.
Production and trade companies in the food, beverage and cosmetics industry.
Here you will find information about how to request a quote with detail of premium calculation, the general and specific conditions, and/or other relevant documents with contractual or pre-contractual information, the duration of the insurance policy, the applicable law and jurisdiction, how to file a complaint or reach the ombudsman, etc.