Gallagher Product Recall Insurance

Gallagher's Product Recall team places Product Recall, Product Contamination and Restaurant Contamination insurance with outside carriers; Gallagher does not underwrite the policy. ¹Company-reportedGroup-level product recall practice page.

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. ¹Not publicly disclosedChecked the group-level product recall practice page.

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. ¹Company-reportedGroup-level product recall practice page; industry-wide statistics, not eligibility criteria for a specific applicant.

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. ¹Company-reportedGroup-level product recall practice page; a general market statistic attributed to USDA, not specific to any client's policy.

The product recall page does not publish limits, retentions or premium ranges. ¹Not publicly disclosedChecked the group-level product recall practice page.

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. ¹Company-reportedGroup-level product recall practice page.