THE LANDSCAPE OF PRODUCT RECALLS Natasha Catchpole Practice Leader (Crisis Management & Product Recall) CFC Underwriting In partnership with:
Classification: Internal Statistics Number of UK recall alerts UK Food and beverage recalls over the last year have increased quarter on quarter. 200 Each notice can include several product lines - could be one or eleven products 150 Average of 160 food and beverage recalls 100 notices each year in the UK 50 Over 3 recall notices per week - not a remote risk for manufacturers, a very real risk 0 2014 2015 2016 2017 Globally undeclared allergens sit at the top spot. Food Safety Allergens Data sourced from FSA website , Feb 2018
Classification: Internal Product recall claim factors Frequency • • Severity and the ‘ripple effect’ Longevity • Internal • External • Technology •
Classification: Internal What is covered? Recall Product Plant Loss of Third Retailers’ Rehab Costs rectification rectification Sales party Costs Product Safety / Manufacturing Error Malicious Tamper (Cyber) Product Extortion CRISIS INSURANCE Product Guarantee PREPARATION CONSULTANTS (RISK TRANSFER) Government Actions (PRE & POST) Adverse Publicity Religious specification Cyber Product Safety
Classification: Internal Top tips to be recall ready: Supplier/co-manufacturer • Customer • Stakeholders and crisis • communications Crisis planning and preparation • Engaging with crisis consultants • Risk transfer •
Classification: Internal 01789 412 569 corporate_enquiries@nfumutual.co.uk
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