Insurance for any business is imperative and you’ll need to determine what insurance your organization needs in the event of a recall. We are all aware that lack of insurance can be extremely costly and detrimental to you and your organization. Take a look at your industry trends and see where problems are occurring and begin investigating which companies carry what insurance.
lack of insurance can be extremely costly
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Recall Insurance is specific to your industry. Work today with your risk management team, and see whether your current insurer has this type of insurance.
Since it is industry specific, the insurance company may have insight into other supporting firms that are well educated in this specialty, such as attorneys, consultants, and training companies.
For a handy field guide to protecting your organization from recalls check out “In the Midst of a Recall. Recall Management and Prevention Strategies for Real World Scenarios” by Robert W. Manning.
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