Underwriting: CFC Updates Product Recall Suite, Streamlines Risk Data

Specialist insurance provider and pioneer in emerging risk, CFC, today announced a significant upgrade to its product recall suite to create a market-leading solution for brokers and their clients.

“The risk environment is constantly evolving, creating previously unforeseen new exposures for the insurance industry to address. By extending the triggers and breadth of our product recall suite to address the real-world needs of our clients, CFC is delivering a market-leading solution that provides comprehensive cover to protect their company, their product and the viability of their ongoing business,” said Natasha Catchpole

In a ground-breaking move, CFC’s enhanced product recall suite now includes recall costs as a result of an intellectual property infringement, cover which has become increasingly important in today’s consumer driven brand aware society.

CFC has also added cover for animal by-product contamination where animal DNA is found in vegan or vegetarian products, and religious product specification guarantee where products advertised as Kosher or Halal are found to fail the religious standard and need to be recalled and destroyed. These new extensions make CFC the first choice for brokers seeking cover for their clients who have these exposures.

Catchpole concludes: “Recalls of any kind can impact cash flow, squeezing a company’s ability to pay staff, purchase raw materials or even continue production. While many companies have adequate cover from third party lawsuits, they often do not consider how they would safeguard their own day-to-day business costs. Our revamped suite provides them with the protection they need.”

CFC’s has also added cover for government plant suspension and product tamper for financial gain. 

For more information read:

·         CFC’s product recall suite

·         CFC’s product recall insurance guide

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