Product Recall
The product recall team at GAWS of London offer a unique perspective on target sectors; understanding clients’ specific needs and arranging cover to protect them from potentially catastrophic recalls instigated by companies or regulatory agencies.
In today’s global marketplace, with stringent regulatory hurdles, product recall is a real and growing exposure to a business’s financial and reputational well-being. Our product solutions complement risk management strategies to ensure organisations are protected against this in the event of a product defect or recall.
Overstretched margins, intricate supply chains, increasing regulatory scrutiny and changing technology are all contributing factors in the increase in frequency and severity of product recalls.
At GAWS of London, our strategic approach to risk assists clients in identifying and understanding their exposures and risk profile in order to implement optimal risk protection that shields balance sheets, reputation and cost expenditure.
While initial recall costs are significant, the potentially catastrophic financial ramifications from brand and reputational damage can be crippling for a long time after the event. Our solutions provide coverage for product extortion, product defects, malicious product tamper and government recall as well as rehabilitation expenses.
Targeted Marketing and Selection
Risk Transfer
Optimisation
Direct access to
Lloyd’s of London
Risk Appetite Aligned to Placement
Our systematic and comprehensive review of a client’s risk profile enables us to implement tailored product recall insurance programmes that optimise risk transfer whilst delivering a cross-class thought process.
Thorough in execution, our lateral thinking affords solutions that are integrated and aligned across a client’s continuum of risks.
Tailored Coverage Solutions
- Pre-recall expenses
- Recall costs
- Business interruption
- Rehabilitation expenses
- Extortion monies
- Consultant costs
- Third party loss
We advocate on behalf of a broad spectrum of clients from a variety of sectors
Food and drink
Electronics
Medical devices
Component parts
Consumer goods
Automotive components
Appliances
Apparel and accessories
Key contacts
