In 2017, nearly 21 million pounds of beef, pork, poultry, and fish were recalled--a big hit to the manufacturers of those products. If your food manufacturing business were forced to recall a product because of spoilage or contamination, would your insurance package be able to help?

A recalled product can impact your company’s reputation--and its bottom line. (In fact, in an Ernst and Young survey, 34 major food companies ranked risk of product recall as one of their most severe strategic threats; more than 80% of those surveyed described this risk exposure as "significant" or "catastrophic.") In the wake of the Food Safety Modernization Act, the nation's greater focus on food safety makes the stakes higher than ever.

The costs of recalling your products from market include removing the product from the marketplace; disposing of the product; replacing the product; the cost of public relations and communications with government agencies; and legal fees and expenses.

But guess what? There's insurance for that.

The right product recall insurance will reimburse your company for expenses related to the product recall--whether or not you were negligent.

Does your commercial insurance package really provide the protection your company needs to continue doing business even if damaged by a product recall, fire or other covered peril, or equipment breakdown? 

Providing your business with the right protection to avert financial disaster and keep your company moving forward requires working with an insurance agent who understands the unique risks of your industry--and how to protect your company from them.

If you haven't reviewed your commercial insurance package in a while, or you're not precisely sure how much protection it really offers, give us a call. We are happy to review your policy with you, point out any gaps in your coverage, and show you how you may be able to get more robust protection at a better price.

For more than 25 years, Beall Financial and Insurance Services, Inc., has been helping corporations and individuals protect their most important assets. The agency’s client base covers a spectrum of businesses that require specialized insurance packages and knowledge. With offices in California and Indiana, Beall Financial and Insurance Services serves clients nationwide.