2017 Emerging Trends and Key Issues Report

The product recall and contamination insurance market continued to evolve and develop in 2016. Coverage is certainly becoming more commonplace for both branded and private label food and beverage product manufacturers. We have also seen continued growth in the automotive component parts sector as an increasing number of companies purchase policies to supplement their risk management programs. Although a fairly stable insurance market has evolved over the past several years, underwriters continue to fine-tune their individual appetite for risk based on product category.

The 2017 Emerging Trends and Key Issues Report is an industry leading publication released by Aon Crisis Management to provide readers with updates on the risk management of product recall and contamination. It also summarizes some of the significant events during the past twelve months, reviews new rules and regulations, and provides updates on the insurance marketplace including tools available to assist firms in evaluating and mitigating their risk.

Key Findings

• Third party ingredient recalls concerning to underwriters
• Carriers having a greater emphasis on non-food consumer and automobile part growth
• Completion of all seven new food safety rules for FSMA