This includes possible laboratory expenses to confirm a contamination, transportation of recalled product, destruction of contaminated product, transportation and relocation of product as well as the value to replace affected product.
Customer Recall Expenses
We cover expenses by your customer as a result of a recalled product becoming a component and/or part of their product(s).
Loss of Gross Profit Coverage
MRM offers up to one (1) year of coverage for lost sales following an incident of product contamination or tampering.
Expenses incurred to restore the integrity, reputation and market share of the recalled product line as a result of tampering or contamination.
Customer Lost Profits
MRM provides reimbursement for lost profits for the insured’s customers on a recalled product. This serves to help expand your business by offering your customers this protection and works to rebuild customer relationships in the event of a product recall.
MRM covers the effects of loss associated with the public, inaccurate reporting of a recall.
MRM offers coverage for the loss associated with withdraw of a product due to governmental or other regulatory authority announcements.
Public Relation Experts
MRM covers and can help provide for and recommend Public Relations consultants if no current relationship exists.
Crisis Management Consultants
We have established relationships with some of the nation’s top Crisis Management specialists who stand ready to assist following a recall. MRM can also provide pre-loss planning to insure a plan is in place should a recall be necessary. Read More
MRM has also long established relationships with industry experts who can help provide advice following a recall.