A compromise in product safety can cause devastation for businesses. For companies offering goods to the public, even minor compromises of product integrity can have significant and potentially permanent consequences. For these businesses and their products, whether food, beverage, pharmaceuticals, finished goods, or their ingredients or component parts, the risk of product recall and/or contamination remains a severe exposure assumed by all stages of the supply chain.
The regulatory landscape in which product manufacturing businesses operate is in a state of rapid development; recently enacted food and product safety initiatives, as well as a newfound authority of governmental bodies tasked with their enforcement, have contributed to an environment of rising standards and rigid expectations. With today’s immediacy of information, any offense can reach millions of consumers in an instant. A dangerous product can breach the trust of customers and cause widespread and irreversible damage to a company’s brand and livelihood.
The leaders of Marsh’s Product Recall practice have been instrumental in the growth of the Contamination and Recall insurance marketplace since it’s very origin. Our team consists of former underwriters of the first insurance products ever available to address the exposures of Product Recall and Contamination. Since then, our unrivaled history as a trusted advisor to some of the world’s largest product manufacturing firms allows us to act as a global leader in the development and implementation of cutting edge insurance solutions.
Our Product Recall Practice has longstanding relationships with major insurance carriers, allowing us to negotiate competitively priced coverage to manage product recall risk. Our expertise can help better understand the risks businesses encounter when operating in the manufacturing, distribution, or retailing space. For decades, our Practice has demonstrated unmatched proficiency in loss mitigation strategies and full service claims support, and has long been sought after as the premier product recall and contamination broker, industry-wide.