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Product Recall – Manufacturing Risk and Response

Product Recall – Manufacturing Risk and Response

What we offer

We offer two unique coverage solutions that address the root of the problems manufacturing insureds may face, including errors in the supply chain or errors that can occur during the design, manufacturing, or distribution of a product.

Manufacturing Risk for Consumer Goods & Component Parts: All finished non-food products and component parts for any industry
Manufacturing Risk for Consumable Products: All topical and ingestible products for use or consumption

How can we help

Why Choose Beazley Product Recall – Manufacturing Risk and Response?

Clear and concise policy forms with minimal exclusions and comprehensive coverages
Policies can include no self-insured retentions, long-term agreements, and unique coverages not offered by other markets
Experienced and innovative underwriting team with global expertise
Single point of contact for claims, ensuring a seamless claims experience
Access to best-in-class product recall consultants
Broad trigger on the non-food form, which does not require any tie back to bodily injury, property damage, or impaired property

Who we can help

Wide range of food and non-food classes considered in all supply chain areas, including:

Growers
Suppliers
Manufacturers
Distributors
Wholesalers
Retailers

WHERE IS THIS OFFERED?

United States, Canada, Singapore, Australia, United Kingdom

The Beazley Difference

BEING BOLD

Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in the world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.

STRIVING FOR BETTER

Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.

DOING THE RIGHT THING

Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.

Examples or Scenarios

Bottle Cap Manufacturer - Policy Trigger - Defect
A copacker bottling company printed incorrect labelling on the underside of beer bottle caps stating “Carbon Zero Certified” rather than standard trivia questions. Beazley covered the cost of replacing the bottle caps.

Snack Food Manufacturer - Policy Trigger - Packaging Defect
The insured manufactures and distributes snack foods, and when a supplier changed the recipe for a base good to contain an undeclared allergen, the insured’s packaging became mislabelled. The insured was reimbursed in interim payments for its business loss, costs related to creating new packaging, and to refund its customers.

Elevator Manufacturer - Policy Trigger - Defect
The insured installs and services residential elevators, and a software malfunction caused doors to open when the elevator car was not present. Beazley’s crisis management consultants dispatched electricians across the U.S. to upgrade the software. The cost to upgrade software exceeded $250,000.