We offer tailored insurance solutions to protect your business from the financial impact of product recalls, helping you recover fast and safeguard your reputation.
When your business is responsible for putting products into the hands of consumers, even a small issue can lead to major consequences. A product defect or contamination can quickly escalate, resulting in mass recalls, reputational damage, and legal action. That’s where our Product Recall Insurance comes in, providing critical protection and peace of mind.
Product Recall Insurance covers the financial impact of recalling a product due to safety concerns, regulatory violations, or manufacturing errors. It ensures your business can recover swiftly and manage the fallout without bearing the full financial burden.
In 2014 alone, professional indemnity and public and product liability claims increased 27.7%.
(Insurancenews.com.au ‘Claims up, premium down for PI and PL’, 2015)
$1,362 million of gross premium during the 2016 underwriting year.
(APRA, National Claims Policy Database, 2017)
701,000 PI risks written in the 2016 underwriting year.
APRA, National Claims Policy Database, 2017
At All Star Brokers, we understand the risks your industry faces. We work with leading underwriters to secure tailored coverage that fits your supply chain, scale, and compliance requirements, so you’re always one step ahead of risk.
Get in touch with our team to discuss a custom Product Recall Insurance solution for your business.
