Does your business offer products? If so, you need product recall insurance from Zande Group.
Not to be confused with product liability insurance, product recall insurance is poised to be an essential policy for businesses that offer goods or products. A product recall could be devastating to your business. If you were to be plagued with a recall, the expenses incurred by your business would be substantial. Make sure that you prepare for this type of catastrophe in advance with a product recall insurance policy.
A wide range of companies, ranging from manufacturers, distributors, importers, installers and retailers can be affected by a product recall. When you consider adding this policy to your business insurance suite, think of all the costs inherent in a product recall, including:
- Pre-Recall Expenses
- Recall Expenses
- Loss of Profit
- And more…
In addition to these expenses, a product recall insurance policy could help your business handle any ruinous lawsuits or damage claims following a product recall. Regulations and customer awareness are heightened in this day in age, so you need to help properly protect your business against the liabilities associated with the products with which you deal. General liability and product liability policies will not cover the costs that arise from a product recall, so it’s vital that you invest in a specialized plan.
As you can see, product recall insurance is essential for businesses that offer commercial products. Speak to a Zande Group agent today to learn how you can acquire this coverage for your company.