Claims in the Product Recall segment tend to be substantial, as the dollar losses—especially in the food & beverage industry—are typically large and the repercussions extreme, experts say.

“We’re not looking necessarily at frequency,” says Bernie Steves, managing director of Aon Risk Solutions’ Crisis Management Group. “We’re looking at severity.”

Most large food & beverage companies are looking to insure against potential Product Recall or Product Contamination losses that could range from $5 million to $20 million on a single claim, he notes.

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