This coverage is automatically added when you have a policy with us and could be at risk of a product recall. There is no premium charge and you have the option to purchase an increase to this coverage. In addition, there is no prior date limitation on when the recalled product was manufactured or sold.
What is covered?
Selective offers two coverages for your unique business needs:
Product Recall Expense
- Costs of hiring contractors or temporary employees, overtime pay to non-salaried employees, and costs incurred by employees as a result of the recall
- Costs of proper disposal of products that are or contain items affected by the recall
- Inspection and testing of products to determine whether they may be subject to a product recall
Additional Covered Expenses
- Cost to replace affected products
- Loss of profit as a result of recall
- Good faith advertising
It’s easy and premium-free to adopt this coverage. Contact an independent insurance agent to find out how. While you’re talking to the agent, don’t forget to find out about Selective’s value-added services like PaySync®, Safety Management, and our Mobile App.
For more information on the types of business insurance solutions Selective Insurance offers, visit Insurance Coverages for Your Business.