Overview of the Program From Alexander J. Wayne & Associates, Inc.
Product recalls can significantly impact a company's finances and reputation. Our Products Recall Insurance program is designed to cover critical costs incurred during a recall event. This includes customer notification, shipping and disposal of defective products, extra warehousing, staffing for recall efforts, and the expense to replace, refund, or repair the affected products. The program may also include coverage for income loss and brand rehabilitation, depending on underwriting.
Alexander J. Wayne & Associates, Inc., a trusted wholesale broker, works with select U.S. carriers and Lloyd’s of London to provide customized solutions for hard-to-place risks. We specialize in helping agents access competitive recall coverage that many standard markets decline to write.
Ideal Accounts and Appetite
This program is suitable for insureds who sell finished goods under their own label, particularly those who rely on third-party manufacturers or distributors. These clients are often exposed to both first-party and third-party recall liabilities. We welcome submissions from a wide range of industries, including but not limited to:
- Food and beverage producers
- Consumer electronics and household appliances
- Industrial components and machinery
- Children’s products and toys
- Automotive parts and accessories
You might have a client who imports private-label kitchen appliances sold through national retailers, or a regional food processor distributing under multiple brand names. These are excellent candidates for our program.
Coverage Highlights and Advantages
The policy typically offers two parts:
- Part I – First-Party Expenses: Includes costs such as recall notifications, shipping, disposal, warehousing, temporary staffing, income loss, and brand rehabilitation.
- Part II – Third-Party Liability: Covers damages or losses suffered by downstream customers or third parties as a result of the defective product.
Coverage can be selected for Part I only, Part II only, or both, depending on the client’s operational needs. Please note, the policy does not respond to governmental sanctions or regulatory fines.
Underwriting Notes and Minimum Premiums
Our underwriting team evaluates each risk based on the type of product, distribution chain, recall history, and risk management practices. While minimum premiums vary by risk class and carrier, we focus on delivering solutions for tough-to-place accounts that fall outside of standard underwriting guidelines.
Territories and Availability
This program is available in most U.S. states, including AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, and WY. Admitted coverage is available in select states; otherwise, coverage is written on a non-admitted basis through domestic and London markets.
Why Work With Alexander J. Wayne & Associates, Inc.?
With decades of experience serving the wholesale insurance market, Alexander J. Wayne & Associates, Inc. is your go-to partner for specialized recall coverage. We bring deep product knowledge, strong carrier relationships, and responsive service to help you place challenging accounts efficiently. Let us help you deliver peace of mind to clients concerned about the financial and reputational impact of a product recall.
Call us today and ask how Alexander J. Wayne & Associates can help you with your hard-to-place Products Recall Insurance accounts.
Frequently Asked Questions
What types of accounts are a good fit for this program?
Ideal accounts include manufacturers, importers, and private-label brand owners in industries such as food and beverage, electronics, toys, and industrial equipment.
Can my client choose between first-party and third-party coverage?
Yes, the insured can select Part I (first-party), Part II (third-party), or both, depending on their specific exposure and needs.
Is this program admitted or non-admitted?
The program is available on an admitted basis in some states, while other placements are written through non-admitted domestic and London markets.
Does the policy cover fines from government agencies?
No, the policy does not cover sanctions or fines levied by government or regulatory agencies.
What information is needed for underwriting?
Underwriters typically require product details, distribution methods, recall history, and current risk management practices to assess the account.
Need help placing an account? Connect with a market specialist.