Stand-Alone Product Recall
Aspera offers coverage for Life Sciences and General Products sector consumable, commercial, and consumer goods to fit a wide range of small to mid-size manufacturers and importers with $100,000 to $100,000,000 revenue. Our underwriters specialize in creatively underwriting your hard-to-place Recall accounts and can offer unique coverages tailored to emerging risks.
Target Classes
- Aircraft and drone parts
- Blood and tissue banks
- Clothing
- Cannabis
- Consumer electronics
- Electronic cigarettes and tobacco
- Firearms and ammunition
- Food products
- Pet foods and toys
- Pharmaceuticals and nutraceuticals
- Sports and recreation goods
- Toys and games
Minimum premium:
$1,000 – $250K/$500K
$2,500 – $1M/$2M
Policy Structure
Policies are written through a non-admitted carrier with a Financial Strength Rating of A (Excellent) by A.M. Best
- Claims-made with cut-off date Recall Liability and Recall Expense
- Policy Limits up to $2M available on primary basis
- 12, 24, and 36-month ERP options available
- Deductible and participation percentage options available
Available Coverage Enhancements
- Optional Additional Coverage – Loss of Income due to Loss of Reputation with Optional Extra Brand Remediation Expenses
- Optional Cyber Security Consultant Costs Endorsement for “smart” products and digitally connected medical devices
- Optional Fair Trade Recall Trigger Endorsement
- Optional Pre-Recall Monitoring Expenses Endorsement
- Optional Surgical Removal Costs Endorsement for implantable medical devices
- Self-initiated recall and government initiated recall triggers
Submission Requirements
- Signed and dated Life Sciences Recall or General Product Recall supplemental application
- Five year currently valued company loss runs
- Copies of the following:
- Any FDA, CPSC, or other government agency citations or recalls
- Current Declarations Page for cut-off date continuity
- Your product QA procedures and Recall plans
- Current Declarations Page
- Website information or product catalog
Availability
- California [Lic. 0K86725]
- Colorado
- Florida
- Maine
- Michigan
- Oregon
- Texas
- Virginia
- Washington
Submission Requirements
- Signed and dated Life Sciences Recall or General Product Recall supplemental application
- Five year currently valued company loss runs
- Website information or product catalog
- Copies of the following:
- Any FDA, CPSC, or other government agency citations or recalls
- Current Declarations Page for cut-off date continuity
- Your product QA procedures and Recall plans
- Current Declarations Page