TO HELP YOU MANAGE
SIGNIFICANT RISK CHALLENGES
DURING A PRODUCT RECALL
The number and magnitude of product recalls has increased significantly in recent years. On average, nearly 10 product recalls occur every week in Australia. Yet many food and beverage companies are uninsured or underinsured for product contamination or mislabelling, which are the most common triggers for a recall.
In a product recall, Australian consumer-facing companies need to protect their brand reputation – and their balance sheet – from potentially catastrophic damage.
Eastern Equity Insurance Brokers can provide you with a range of insurance solutions tailored to specific sectors to help you manage the significant risks and challenges that can occur during a product recall.
This may be the result of a defective product, contaminated goods, or items that have been tampered with, and the costs involved will likely be far greater than those of simply recalling the product. The results can be catastrophic for a business.
Our team of specialist insurance brokers will help you to understand your exposures and provide guidance on appropriate coverage. We can arrange cover designed for manufacturers, producers, suppliers and retailers of foods, pharmaceuticals, cosmetics, or consumer goods.