Product Recall Insurance for AFIA Members
The Program covers recall expenses including any contaminated product, as well as costs of chemical analysis, transportation, warehousing, relocation, and reworking or replacement of the product. The program includes lost gross profit coverage of the business for up to 12 months after a tampering, contamination or extortion. Recall expenses incurred by your customers as a result of your product becoming a component part of their product are also covered. Customer loss of profits coverage provides reimbursement to your customer for profits they would have realized had a recall of your product not occurred. Coverage includes rehabilitation expenses incurred to restore the reputation and market share of the entire entity that is the subject of the tampering or contamination. Additionally, coverage is provided for crisis management consultants, public relation firms and rehabilitation expenses incurred in connection with the response to an incident. Policies are available for one, two and three year periods.
Program Benefits
The broadest coverage currently available for the Feed Industry. For example coverage is expanded to losses from potential bodily injury or property damage of humans, animals and livestock. Our program offers a $25,000,000 capacity. Coverage is triggered by a contamination or tampering with or without a recall. Coverage extends to your customers so they will remain your customers after a loss. Professional crisis management through Red24 Crisis Management Consultants provides pre-loss planning and post-loss controls and investigations, if needed. Product recall claims experts will handle the servicing and logistics of your loss at all stages. You will also have your choice of public relations firms to restore your good name. Additionally, the services of food safety consultants are included.
