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)
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.