Product Recall & Extortion – Protecting Your Brand and Profits
The cost of a product recall can be devastating for a company. In addition to the cost of the recall and lost profits, a company incurs damage to its reputation. The poor perception by consumers and customers can lead to reduced sales, cancelled orders, and lost future business.
Orion can help you design appropriate insurance coverage to respond to the crisis. The insurance policy can include coverage for recalling products, value of contaminated products, loss of profits for your company, third party loss of profits for your customers, crisis consultant costs, public relations costs, and even product extortion expense.