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.
Small Business Product Recall Insurance 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
Small Business Product Recall Insurance 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.
Small Business Product Recall Insurance 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.
Contact
Have questions about product recall insurance or need more information, email us at recall.info@chubb.com.