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Posted on 02 Apr 08
Recall Crisis Recovery, a customized recall policy for small to mid-sized manufacturers, with new forms and new wording from storefront owner Professional Liability Insurance Services.
EXPOSURE:
Do your clients know they are legally responsible for the safety of food and beverage products they manufacture? Governmental agencies do NOT differentiate based on the size of a manufacturer! All companies are equally obligated to produce safe products and recall that product if it comes into question.
POTENTIAL RECALL OUTCOME:
National adverse media, loss of contracts, cancelled orders, drop in sales, customer dissatisfaction, fines, penalties, and possible closure of your clients business...
SOLUTION:
RCR - THE FOOD AND BEVERAGE RECALL CONTAMINATION INSURANCE POLICY
Policy Highlights include:
Limits up to $5M
No minimum premium
Triggers:
Accidental Contamination
Malicious Contamination
Products Extortion
Reimbursement Coverage for:
Gross or Net Profits
Extra Expense
Rehabilitation—retrieving, destroying, reworking, and transportation
Loss of revenues due to loss of contracts
Additional Features:
Crisis Management
48 Hour Quote Turnaround Time
Direct access to experienced Underwriters – HACCP Certified
Customized marketing / tools available to assist with the sales process
Experienced and nationally recognized in-house claims administrators
Crisis Management:
PROBLEM: Do your clients have the resources and expertise to handle a product recall?
SOLUTION: Crisis Management included in the policy:
Nationally ranked company: Specialty Risk Management, Inc.® (SRM®)
HACCP Certified Risk Managers
Media / Public Relations
Help with governmental agencies during the recall (FDA, FSIS, USDA and more)
Assistance with government compliance with onerous pre- and post-recall reporting
24/7 real time / live response support throughout the policy period
1-800 support hotline to assist the company and consumers
No deductible applies to Crisis Management
For more information, visit their storefront at www.programbusiness.com.
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