Product Recall

Product Recall Insurance – What is it?

Product recalls continue to be a growing concern for manufacturers and consumers.Now there has never been a better time to consider product recall insurance. Can you afford not to cover yourself for this risk?

Product Recall Insurance can protect business from the devastating effects of such incidents by providing coverage for those expenses that occur before the product defect has resulted in damage to a third party.

 What can be covered?

The recall of your product in the market as a result of:

  • Defect
  • Government Recall
  • Malicious Product Tampering
  • Product Extortion

Given the cost of a recall can be incurred by the manufacturer and importer right through to the wholesaler, distributor, exporter or retailer, you need cover right across the supply chain.

Most traditional recall extensions do not provide cover for the major costs of a recall such as Business Interruption, Replacements Costs, Rehabilitation Expenses or Extortion. It has been the case that these extra covers can account for almost 65% of the total cost arising from a particular Product Recall.

The policy covers the key expense areas which arise following a recall including:

  • Business Interruption
  • Replacement Costs
  • Recall Costs
  • Consultants & Advisors Costs
  • Rehabilitation Expenses
  • Third Party Financial Loss
  • Extortion Costs

The policy also provides cover for the costs and expenses involved in engaging expert independent consultants & advisors who can assist in guiding the company through the critical first few weeks of an incident.

Examples of Product Recall situations

Recalls in the USA

Read our Product Recall FAQs

 Who can help?

An Insurance Broker who specialises in this cover can find the right Insurer for you with the most appropriate policy wording. An insurance broker's role is to act as your representative and work in your interests, seeking the best cover at the best price for you with their skill, market knowledge and experience. Call a good one.

Call CPR –Experts who will save you 

Latest News

Robert Cooper - Elite Broker again

We are pleased to announce that once again Insurance Business Magazine has recognised Robert Cooper amongst the top Elite Insurance Brokers in Australia. See here

It is the fourth time in six years Robert has received this honour.

It is a great recognition for CPR Insurance Services who strive to provide the best possible standard of customer care and service to assist obtaining the best possible cover at the best possible price to meet the needs of for our clients.

Such awards are not possible without the outstanding support provided in the office by Julia, Aidan and Mandy, along with the fantastic support our clients continue to show to us. Thank you to all.

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CPR Insurance nominated for Brokerage of the Year

We are please to announce that CPR Insurance Services has been nominated as a finalist in the Brokerage of the Year (1 to 5 Brokers) for the inaugural Insurance Business Awards. 

A Black Tie Gala Dinner in Sydney on the 4th May 2018 will announce the winner, so fingers crossed.

CPR Insurance Services has been in existence for more than 7 years now and continue to grow and develop. It is thanks to our wonderful clients who appreciate us being part of their own businesses as their Risk and Insurance Advisers.

We continue to follow the simple philosophy of providing Expertise, best possible service and being there for our clients when they need us, such as at Claim time. We are here to save you.

Find out who made the cut here!

The Insurance Business Awards will bring together industry leaders to celebrate excellence in the insurance profession, recognising leading brokers, brokerage businesses, insurers and underwriting agencies in Australia for their contribution to the industry over the past 12 months.

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