BluNiche Launches Pharmaceutical Product Recall Insurance

BluNiche, the London-based product recall specialist MGA, announced the launch of its Pharmaceutical Recall Insurance product, expanding its portfolio to provide dedicated coverage for the pharmaceutical sector.

The new offering provides comprehensive recall protection for pharmaceutical companies, contract manufacturers, contract packers, distributors, and Active Pharmaceutical Ingredient (API) manufacturers operating worldwide.

BluNiche has the specialist capabilities to understand clients’ risks, tailor solutions and provide balance sheet protection in the event of a recall, the insurer said, noting that it will be working with brand-name drug manufacturers, generic drug producers, and biologic drug companies.

“At BluNiche, we only underwrite product recall insurance,” said Neil Evans, founder of BluNiche. “Our senior underwriter, Alex King, has used his extensive experience in underwriting pharmaceutical risks over many years to shape this coverage around the specific challenges faced by pharmaceutical businesses. I’m extremely thankful to Alex and proud to work alongside such a strong team with deep technical expertise.”

“The pharmaceutical industry, where most recall issues tend to be batch or run specific – such as mislabelling, micro-contamination, or packaging defects – has very specific recall needs, and we’re delighted to now provide this critical support to the industry,” King said.

BluNiche pharmaceutical recall policies are underpinned by “A+” S&P-rated Lloyd’s security, and include coverage for recall costs, loss of profits, and crisis consultancy services—providing invaluable balance sheet protection in the event of a recall.

BluNiche’s Pharmaceutical Recall Insurance is now available through broker partners.

Founded in 2022 by product recall veteran Neil Evans, BluNiche provides product recall insurance for clients seeking balance sheet protection and crisis management. BluNiche also provides product recall protection for pharmaceutical manufacturers, food and beverage manufacturers, restaurants, packaging companies, retailers, finished goods manufacturers, and auto component manufacturers.

Source: BluNiche

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