Managing general agent BluNiche has launched a pharmaceutical recall insurance product that offers cover to pharmaceutical companies, contract manufacturers, contract packers, distributors and active pharmaceutical ingredient manufacturers operating worldwide. The product is backed by A+ (S&P) rated Lloyd’s security and provides cover for recall costs, loss of profits, and crisis consultancy services.

Neil Evans founded the London Market MGA in 2022 and it only writes product recall business. The new product is available through brokers. BluNiche also offers recall products for food and beverage manufacturers, restaurants, packaging, retailers and finished goods, as well as for auto component manufacturers.

Alex King, senior underwriter at BluNiche, said: “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.”