PRODUCT RECALLS Natasha Catchpole Practice Leader (Crisis - - PowerPoint PPT Presentation

THE LANDSCAPE OF PRODUCT RECALLS

Natasha Catchpole

Practice Leader (Crisis Management & Product Recall) CFC Underwriting In partnership with:

Classification: Internal

Statistics

UK Food and beverage recalls over the last year have increased quarter on quarter. Each notice can include several product lines - could be one or eleven products Average of 160 food and beverage recalls notices each year in the UK Over 3 recall notices per week - not a remote risk for manufacturers, a very real risk Globally undeclared allergens sit at the top spot. 50 100 150 200 2014 2015 2016 2017

Number of UK recall alerts

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?

Product Safety / Manufacturing Error Malicious Tamper (Cyber) Product Extortion Product Guarantee Government Actions Adverse Publicity Religious specification Cyber Product Safety Recall Costs Product rectification Plant rectification Loss of Sales Rehab Third party Retailers’ Costs

INSURANCE (RISK TRANSFER)

PREPARATION CRISIS CONSULTANTS (PRE & POST)

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