AIG vs Gallagher: How Do They Compare for Product Recall Insurance?

The source attributes the product to collaboration between AIG Multinational and Talbot Underwriting. It does not resolve the legal issuing entity for a particular policy, so this draft preserves the collaboration boundary. ³Company-reported. Role in this product is limited to the description on the linked AIG source.

Gallagher's Product Recall team places Product Recall, Product Contamination and Restaurant Contamination insurance with outside carriers; Gallagher does not underwrite the policy. ⁹Company-reported. Group-level product recall practice page.

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The product recall page says Gallagher works directly with leading carriers globally but does not name the specific insurer that would issue a given client's policy. ⁹Not publicly disclosed. Checked the group-level product recall practice page.

The summary sheet identifies component-part manufacturers, consumer-goods and topical/consumer-health businesses, and finished-goods supply-chain participants. It describes a multinational market, not unrestricted U.S. standalone eligibility. ³Company-reported. Audience is the segment AIG names on the linked source; this is not an underwriting decision, quote or guarantee of availability.

Gallagher markets this coverage to manufacturers and supply-chain participants across food and beverage, automotive, medical device, pharmaceutical, restaurant and consumer-goods segments, citing 2023 US recall counts including 916 vehicle recall types, 975 medical device recalls, 517 pharmaceutical recalls and 322 consumer good recalls. ⁹Company-reported. Group-level product recall practice page; industry-wide statistics, not eligibility criteria for a specific applicant.

AIG and Talbot describe Product Recall Insurance within a multinational risk solution. The sheet does not establish a buyer’s recall trigger, covered costs, limits, exclusions or policy issuer for a local placement. ³Company-reported. AIG’s public product description is not the policy. Actual entitlement depends on the applicable issued form, endorsements and declarations.

Gallagher says product recall insurance is designed to fill a gap left by general liability and product liability policies: it cites USDA data that roughly 80% of food and agribusiness losses from a food-borne illness event fall outside a standard product liability policy's scope. ⁹Company-reported. Group-level product recall practice page; a general market statistic attributed to USDA, not specific to any client's policy.

The reviewed summary sheet does not specify a standard limit, retention or deductible for a buyer. Confirm the local policy, issuer and terms for the transaction. ³Not publicly disclosed. This statement reports only what the linked public source discloses and does not substitute for a quote or issued policy.

The product recall page does not publish limits, retentions or premium ranges. ⁹Not publicly disclosed. Checked the group-level product recall practice page.

The summary sheet describes an integrated multinational service team, local policy and claims handling through network participants, and risk engineering support. The specific service provider depends on the placement and jurisdiction. ³Company-reported. The linked page describes company-reported support; specific account services and third-party arrangements must be confirmed.

Gallagher says its Product Recall team consists of specialists who spend all their time on this risk, and that it provides claims advocacy, forensic accounting, contractual feedback on recall liability, regulatory consulting, coverage advisory, business-continuity planning and staff training tied to a recall event. ⁹Company-reported. Group-level product recall practice page.