Product Recall

Product recall is a real threat for small, medium-sized and big manufacturers and industries. The chain of events caused by a product recall, either involuntary or voluntary, includes:
• loss of market share / decrease of sal es
• loss of consumer loyalty
• loss of retail shelf space for the insured company's products
• termination of important contracts

Factors such as the maintenance of business relationships, the restoration of the production procedure and the protection of the balance sheet itself are viable for such enterprises

A skilful handling of a forthcoming product recall not only minimises any damage caused by the defective product, but it also demonstrates reliability, stability and professionalism to the associates / wholesale and retail customers of the enterprise, who are the key to the fast redistribution and repositioning of the product to the market.

"Product Recall" Insurance by AIG GREECE can protect an enterprise from the destructive effects of a recall by covering the main recall expenses and providing the services of the specialised Public Relations (HILL & KNOWLTON) & security (KROLL ASSOCIATES) consultants; such services are necessary for the proper guidance of the company's customers during the first weeks following the product recall.