RecallResponse incorporates coverage for product recall expense as well as third party liability coverage for some of the sums the insured is legally obligated to pay as compensatory damages due to a product recall.
Special endorsements are available for impaired property.
Product recall administrators are available for firms who wish to outsource the administration of the recall Specialized loss-control services are also available to support an insured's product recall strategies. Part of a product recall strategy should be a reliable product recall program. Coverage A pays the first party expenses associated with the recall, such as notification, shipping, warehousing and additional personnel Through attachment of an endorsement, Coverage A can be extended to include the cost of repair, replacement or refund of the product Coverage B provides coverage for the claims by third-parties seeking damages due to a product recall Coverage B may be extended by endorsement to cover liability for impaired property. Inc. All Rights Reserved.