Tag Archives: product recall

Preparing for a product recall

For manufacturers of all types of consumer goods, product recalls or contamination can easily cost millions. These costs can include product loss, costs to withdraw the product from the market, product disposal, product testing, overtime wages and crisis management. Despite recall frequency and the potential for these extraordinary costs, most companies don’t adequately plan, prepare […]

FOOD & BEVERAGE: Preparing for a Product Recall

Despite recall frequency and the potential for extraordinary costs, most companies don’t adequately plan, prepare and practice for – or buy insurance to protect against – product recall events. In addition to proper insurance covers, careful planning is essential in managing the risk of a recall. There are two categories of exposure for a company […]