Product Recall Insurance

Chubb Recall Plus for Consumer Goods

  • The perfect coverage for the new or established business owner.
  • Coverages are made-to-order allowing policyholders to select "add-on" coverages based on their needs or their budget.
  • Crisis consultants available 24/7 via our emergency hotline.

For producers of consumer goods, you can get help preventing a recall, as well as protection from financial losses if you are affected by such an event.

Coverage Highlights

Coverage

  • The perfect coverage for the new or established business owner.
  • Coverages are made-to-order allowing policyholders to select "add-on" coverages based on their needs or their budget.
  • Crisis consultants available 24/7 via our emergency hotline.
  • 10% of net premium offered to policyholder annually to cover loss mitigation costs.

Minimums

  • $10,000 minimum SIR
  • $5,000 minimum SIR for small businesses

Limits

Chubb’s Product Recall unit has $15 million in limits available on a primary basis. We do have the ability to write policies with up to $20 million in limits by obtaining facultative reinsurance.

Client Profile

On a primary basis we are focusing on companies with sales up to $1 billion. Companies with sales in excess of $1 billion will be considered with either a high self-insured retention or on an excess basis.

For Consumer Goods, the 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.

The types of risks considered include manufacturers, importers, distributors, wholesalers, retailers, etc.

Restricted Classes

  • Drop side cribs
  • E-cigarettes
  • Fireworks
  • Products that are incorporated as a component or constitute a part of any third party's products or goods.

NEW! Specialized Businesses, should have Specialized Consultants

Small businesses have 24/7 access to product recall consultants on a post-incident basis allowing the small business owner to have a business partner who knows the pitfalls/implications of recalls and essential coverage in one package. Our specialized group of experts knows the regulatory challenges and product safety rules first hand:

Forms/Applications