Expert Recall

By Mike Rozembajgier

There is no doubt that managing a recall – no matter what the industry – can be a costly and time-consuming process, especially considering the external recall logistics and communications expertise required. With increasingly stringent recall regulations making it next to impossible to handle a recall internally, recall insurance options can help protect manufacturers, wholesalers, retailers, and distributors from the financial and reputational damage that often results from a recall.

As I recently told Fortune, companies facing a product recall are often too busy keeping the business going and making adjustments to prevent future problems to actually manage the recall logistics and recall communications as well as they would like. But they can rest a bit easier if they have invested in advance in a recall insurance program. Recall insurance usually covers the cost of actual product retrieval and the crisis communications support necessary to address the concerns of regulators and consumers.

Just as important, however, is the recall insurance carrier’s focus on recall prevention and preparedness. In many cases, recall insurance companies require companies to prepare a recall plan before writing the coverage.

This requirement shouldn’t be considered a burden. It is a launching point from which to start a larger conversation about recall preparedness and recall prevention. Minimizing the risk of a recall will not only satisfy recall insurance providers, it will also protect your bottom line, your brand reputation, and, most important, the health and safety of your customers.

Stericycle ExpertRECALL™ is the industry leader in recall logistics and regulatory compliance for consumer product, pharmaceutical, medical device, juvenile product, and food and beverage recalls. ExpertRECALL’s professionals are experts in recall management who can help you streamline the entire product recall process.