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POSTED BY in Food Safety, News & Articles

Chinese retailer introduces infant formula recall insurance

A Chinese insurer is capitalising on the consumer sentiment in China at present regarding the safety of infant milk formula. After a number of product safety scares and recalls of infant powdered milk formula in China, this insurer is offering the consumer compensation if a recall were to occur. The nature of this product, considered a staple rather than an optional purchase, could potentially support the take up rate of the insurance product.