Product recalls are complex for any business, particularly so if you are a small business owner. You can get affordable product recall insurance coverage with this solution designed for first-time buyers who need coverage but may be priced out of other market offerings.
Product Recall Insurance for Small Business Coverage Highlights
- Protects balance sheet and brand name
- Combines traditional insurance with consulting services
- Gives the ability to customize and tailor coverage to the insured needs
- Covering businesses with sales to $25 million
- Minimum SIR of $2,500
- Limits $25,000 to $2 million
- Highly skilled underwriting expertise
- The Chubb Difference - financial strength: Rated AA- by Standard & Poor's and A++ by A.M. Best
Product Recall Insurance for Small Business Client Profile
- Component Parts: Target risks are component parts which are used in the general manufacturing, electronic, medical device, automotive and aviation industry.
- Consumer Goods: 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.
- Consumable Products: Target industries are food & beverage companies, cosmetics, and pharmaceuticals.
Product Recall Insurance for Small Business Submission Requirements
- Chubb’s Small Business Application Form and Supporting Documents
- Copy of Recall and Traceability Program
- Copy of Quality Control Manual (incl. Standard Operating Procedures/Sanitation Standard Operating Procedures and Good Manufacturing Practices)
- 5 year Loss History
- Please send submissions to: productrecall@chubb.com
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.