Company to Offer Specialized Product Recall Insurance

Product recalls have been issued in the past 12 months for products ranging from to , but an insurance company with underwriting based in might have an answer for beleaguered companies.

According to the Wall Street Journal BusinessWatch website, ACE Westchester announced this week it has introduced a new stand-alone produce recall underwriting unit to deliver insurance products to help companies bear the risk of product recalls.

The announcement said that Florian Beerli will serve as Senior Vice President, Product Recall Underwriting, responsible for structuring the product recall insurance for the specific needs of customers, and he will be based here in Woodbridge.

Product recalls can be costly, whether done voluntarily, as with the peanut butter recall, or ordered by the federal Food and Drug Administration, as with the dog food and cat food recall.