Chubb vs Gallagher Product Recall Insurance

Chubb underwrites product recall insurance directly through Recall Plus for Consumer Goods, aimed at both new and established business owners producing consumer goods. ⁴Company-reported. Recall Plus for Consumer Goods product page.

Gallagher's Product Recall team places Product Recall, Product Contamination and Restaurant Contamination insurance with outside carriers; Gallagher does not underwrite the policy. ¹⁰Company-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. ¹⁰Not publicly disclosed. Checked the group-level product recall practice page.

Chubb primarily targets companies with sales up to $1 billion; companies above $1 billion are considered with a high self-insured retention or on an excess basis. Target risks include manufacturers, importers, distributors, wholesalers and retailers of finished consumer products such as appliances, electronics, clothing, furniture, household goods, children's products and sporting goods. ⁴Company-reported. Client Profile section.

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. ¹⁰Company-reported. Group-level product recall practice page; industry-wide statistics, not eligibility criteria for a specific applicant.

Chubb says coverages are made-to-order, letting policyholders select add-on coverages based on need or budget, and offers crisis consultants available 24/7 via an emergency hotline. ⁴Company-reported. Coverage Highlights section; subject to the policy as issued.

Chubb restricts this product for drop-side cribs, e-cigarettes, fireworks, and products that are incorporated as a component of a third party's products or goods. ⁴Company-reported. Restricted Classes list.

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. ¹⁰Company-reported. Group-level product recall practice page; a general market statistic attributed to USDA, not specific to any client's policy.

Chubb publishes a $5,000 minimum self-insured retention ($2,500 minimum for small businesses) and says its Product Recall unit has $5 million in limits available on a primary and excess basis, with additional capacity considered case by case. ⁴Company-reported. Coverage Highlights, Minimums and Limits sections.

The product recall page does not publish limits, retentions or premium ranges. ¹⁰Not publicly disclosed. Checked the group-level product recall practice page.

Chubb says businesses get 24/7 access to a network of specialized product-recall consultants on a post-incident basis, described as leading industry professionals familiar with product-recall regulatory challenges. ⁴Company-reported. Specialized Consultants section.

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. ¹⁰Company-reported. Group-level product recall practice page.

Chubb publishes a Recall Plus application for non-food products and provides an email address for product-recall insurance questions. ⁴Company-reported. Related Resources and Contact sections.

Not described in the reviewed sources.