Chubb’s Product Recall unit has $5 million in limits available on a primary basis. We do have the ability to write policies with up to $15 million in limits by obtaining facultative reinsurance.
On a primary basis we are focusing on companies with sales up to $1 billion. Companies with sales in excess of $1 billion will be considered with either a high self-insured retention or on an excess basis.
For Consumer Goods, the target risks are finished products in the areas of appliances, electronics/electrical, clothes, furniture, household, children's products, outdoor goods and products, sports/exercise equipment and products, etc.
The types of risks considered include manufacturers, importers, distributors, wholesalers, retailers, etc.
Small businesses have 24/7 access to product recall consultants on a post-incident basis allowing the small business owner to have a business partner who knows the pitfalls/implications of recalls and essential coverage in one package. Our specialized group of experts knows the regulatory challenges and product safety rules first hand: