Article May 14, 2021

Six things product recall underwriters love

We understand that when these enquiries pop up it can be hard to know what star qualities you could be highlighting to us, what documents (aside from the application form) will make your client stand out?

Product recall events can span across a range of industries, and here at CFC we see all kinds of risks - big and small.

Here are six things product recall underwriters love to see in your submissions:

  1. Comprehensive supplier approval processes

    With products only being as good as their worst ingredient/component, supply chain management is a crucial step in the quality assurance process. In the BCI Supply Chain Resilience Report 2021 it was found that 80% of organisations reported their top management committed to supply chain risk as a high or medium priority. We love to see comprehensive supplier approval processes in place that demonstrate good oversight and controls, especially a documented process.

  2. Thorough testing procedures

    The testing procedures a manufacturer follows are the spine of a quality assurance (QA) regime, and demonstrate essential checks during the production process. We understand the due care and attention that goes into creating comprehensive Hazard Analysis Critical Control Point (HACCP) plans, especially for food and beverage manufacturers. We love receiving details of testing regimes, be this an overview of procedures, or a copy of the HACCP plans in place.

  3. Strong oversight of co-manufacturers

    When manufacturing is outsourced to a third party it is even more critical your clients get a policy that covers them for this (our does as standard!). We love to see strong oversight of co-manufacturing operations, whether with regular audits, or strong contractual terms. These terms should protect your clients and hold the co-manufacturer accountable for any errors they make.

  4. Recent third-party food safety audit with a strong audit score

    This one is particularly for food and beverage manufacturers, where BRC (British Retail Consortium) and GFSI (Global Food Safety Initiative) audits are commonplace. We love to see the audit report, as it gives us a fantastic snapshot of your client’s risk.

  5. A well thought out crisis management plan

    A well-prepared client is one step closer to preventing a crisis should a product recall event occur. A fantastic addition to your application form is a recall plans, crisis management plans and /or documented mock recalls that are well laid out and frequently tested.

  6. A recall event already occurred? We love great remedial action!

    Recalls happen – ultimately it is why the cover is being purchased. If there has been a previous product withdrawal event this isn’t a barrier to accessing product recall insurance. Providing details around the root cause, quantum and well thought out and implemented remedial action are things we love to see. It helps us understand what has happened and gives us a better feel for the risk.

CFC’s product recall team love to work with clients to understand their risks and to provide support. If you have any questions about how we underwrite or want more information on what to include in your submissions, just drop us an email.