For producers of consumer goods, you can get help preventing a recall, as well as protection from financial losses if you are affected by such an event.
Product Recall Insurance for Consumer Goods Coverage Highlights
- The perfect coverage for the new or established business owner.
- Coverages are made-to-order allowing policyholders to select "add-on" coverages based on their needs or their budget.
- Crisis consultants available 24/7 via our emergency hotline.
- Minimums:
- $5,000 minimum SIR
- $2,500 minimum SIR for small businesses
- Limits:
- Chubb’s Product Recall unit has $5 million in limits available on a primary and excess basis. Additional capacity may be considered on a case by case basis.
- Restricted Classes:
- Drop side cribs
- E-cigarettes
- Fireworks
- Products that are incorporated as a component or constitute a part of any third party's products or goods.
Product Recall Insurance for Consumer Goods Client Profile
On a primary basis we are focusing on companies with sales up to $1 billion. Companies with sales in excess of $1 billion will be considered with either a high self-insured retention or on an excess basis.
For Consumer Goods, the target risks are finished products in the areas of appliances, electronics/electrical, clothes, furniture, household, children's products, outdoor goods and products, sports/exercise equipment and products, etc.
The types of risks considered include manufacturers, importers, distributors, wholesalers, retailers, etc.
Specialized Consultants, for Specialized Businesses
Businesses have 24/7 access to a network of specialized product recall consultants on a post incident basis. Our group of experts are leading industry professionals who are familiar with the regulatory challenges and nuance of the product recall market.