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Liability Insurance


Recalling defective, contaminated or mislabelled products can prove very costly. Product recall insurance can mitigate against growing risks.

RBIG Product Recall Insurance Solutions

Tighter regulation, increasingly complex supply chains and the ever present need to manage or reduce costs are all considered contributory factors to a rise in product recalls.

According to 2017 research by business insurer Allianz Global Corporate & Speciality, (AGCS) both the number and scale of product recalls has increased. The number of recalls due to mislabelled allergens alone had risen by 60% following EU legislation introduced in 2016. 

Analysis of claims made across 12 industry sectors found that average cost of recall could be more than €1.4 million. For the worst affected industries the figures were even starker, with average food and beverage sector costs hitting €8 million and exceeding €12 million in the automotive industry.  

Product Liability policies, which are commonly arranged, provide cover for your legal liability for any loss, damage or injury to third parties caused by the product but they do not cover where there is only a risk of injury.

This is where product recall insurance can help manufacturers, retailers and wholesalers protect themselves against the costs associated with recalling a defective, contaminated or mislabelled product. More than that, this specialist cover can assist businesses in speeding their operational recovery and minimising reputational damage.

RBIG offers businesses of all shapes and sizes expert assistance in securing product recall insurance that best matches their needs and risks.

RBIG Product Recall Insurance services

The AGCS research cites loss of sales and business interruption as typically creating the biggest product recall bills.

However, recalling a product can impact both current and future bottom lines in a number of ways. 

Working in partnership with you, our commercial insurance broking experts can advise on both the types and level of cover appropriate to your business.

Because we are a specialist business insurance broker, we can advise on the policies and options (including their policy terms, conditions and limits) offered not by one, but a range of commercial and industrial insurers.

Those options may include:

  • Crisis management - including call centre and specialist public relations support
  • Logistics and warehousing of affected goods
  • Reputational damage - corporate and brand
  • Re-labelling and/or design of packaging
  • Product rectification
  • Recalled goods disposal
  • Publication of recall notices
  • Value of recalled products
  • Retailers' reimbursements
  • Loss of listing
  • Fines and penalties
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