Amelia Risk vs Gallagher Product Recall Insurance

Amelia Risk brokers product recall insurance and describes itself acting as the client's broker to help evaluate whether and how much recall coverage to buy, rather than underwriting the policy itself. ⁴Company-reported. Product Recall page's closing sentence, "As your broker, we help walk through these factors." Does not name the issuing insurer for a given placement.

Gallagher's Product Recall team places Product Recall, Product Contamination and Restaurant Contamination insurance with outside carriers; Gallagher does not underwrite the policy. ¹¹Company-reported. Group-level product recall practice page.

Not described in the reviewed sources.

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. ¹¹Not publicly disclosed. Checked the group-level product recall practice page.

Amelia Risk says whether a company should buy product recall coverage varies and depends on the brand's risk tolerance, the type of product, and factors like batch sizes and distribution channels. ⁴Company-reported. Product Recall page's "When should a company buy" section; general purchase-timing guidance, not eligibility criteria for underwriting.

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. ¹¹Company-reported. Group-level product recall practice page; industry-wide statistics, not eligibility criteria for a specific applicant.

Amelia Risk says a product recall policy can cover the costs to recall, destroy and replace product, plus public relations expenses, investigation costs, government-mandated recalls, the client's own loss of income, and often a vendor's loss of income tied to the recall. ⁴Company-reported. Product Recall page's coverage list; a general description of the coverage type, not a specimen policy form or a specific insurer's wording.

Amelia Risk says product recall policies are not standardized, so the scope of coverage can be very broad or very narrow depending on the insurer, and recommends working with a broker who knows the space well. ⁵Company-reported. CPG page's product recall discussion; a general statement about the product-recall market rather than a specific policy comparison.

Amelia Risk distinguishes product recall from product liability: recall insurance pays the costs and expenses of pulling a product from the market, while product liability covers third-party bodily-injury or property-damage claims caused by the product; the two are separate policies that can both respond to the same contamination event. ⁵Company-reported. CPG page FAQ 2. Also notes that some general liability policies include only low sublimits for recall, not a substitute for a dedicated recall policy.

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. ¹¹Company-reported. Group-level product recall practice page; a general market statistic attributed to USDA, not specific to any client's policy.

Not described in the reviewed sources.

The product recall page does not publish limits, retentions or premium ranges. ¹¹Not publicly disclosed. Checked the group-level product recall practice page.

Amelia Risk says it helps clients walk through the risk factors relevant to product recall (product type, batch size, distribution channels, risk tolerance) and come up with a coverage solution that fits. ⁴Company-reported. Product Recall page's closing paragraph; a general advisory service description, not a formal risk-control program.

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. ¹¹Company-reported. Group-level product recall practice page.

Amelia Risk's stated process for arranging coverage, including product recall, starts with gathering information about the company, then approaching multiple insurers, reviewing the resulting quotes with the client, and letting the client decide how to proceed. ²Company-reported. Specialties page's four numbered steps; describes the firm's general placement workflow, not a product-recall-specific application form.

Not described in the reviewed sources.

Amelia Risk says it will advocate for a client's needs during claims, as one of the things clients can expect when working with the firm; the Product Recall page does not describe a recall-specific claims process. ²Company-reported. Specialties page's process list, a general claims-advocacy statement covering all lines the firm places. The Product Recall page itself is silent on claims handling.

Not described in the reviewed sources.