red24 to help clients of insurance giant Catlin manage product safety crises

July 3, 2012 - PRLog -- Crisis management assistance company red24 has been appointed by global specialty property/casualty insurer and reinsurer Catlin Group Limited to offer advice and emergency support services to its clients outside North America on product recall and contamination.

Catlin, which has more than 1,600 underwriters, actuaries, claims specialists and support staff across the world, and underwrites policies for more than 30 business lines, is a market leader in product recall and contamination insurance.

It provides insurance for product safety recalls involving both food and drink, and non-food consumer items, such as children’s toys. It reimburses the costs of recalling a product and replacing it in the marketplace with a safe one, and provides expert assistance during this process. It also offers insurance against product contamination, which includes malicious product tamper and extortion.

red24, which is a market leader in product safety and provides support across a range of areas—including accidental product contamination, quality assurance, food safety, site security and malicious product tamper and extortion, will advise and train Catlin’s clients. red24 will also provide on-the-ground support in the event of a product recall.

David Burke, Senior Class Underwriter of Catlin, says: ‘As a market leader in product recall and contamination insurance, we pride ourselves on providing the best quality services to our clients to help them mitigate product safety risks and respond appropriately in the event a crisis. red24 has a proven reputation in this highly specialised field and we are delighted to be working with them.’

Maldwyn Worsley-Tonks, CEO of red24, says: ‘Ensuring product safety is essential to a company’s reputation, its assets and its ability to continue trading. We could not be better placed to help Catlin’s clients mitigate and manage the risks involved and ensure the best possible outcome in a crisis. We are very pleased that Catlin has appointed us to assist them in this area.’