For manufacturers of component parts, this policy offers flexible product recall insurance coverage designed just for them.
Chubb’s Product Recall unit has $5 million in limits available on a primary or excess basis. Additional capacity may be considred on a case by case basis.
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.
Target risks are component parts which are used in the general manufacturing, automotive and aviation industry.
Businesses have 24/7 access to a network of specialized product recall consultants on a post incident basis. Our group of experts are leading industry professionals who are familiar with the regulatory challenges and nuance of the product recall market.
The base policy wording includes recall costs, consultant costs, and defense costs, and all other coverages can be added on via endorsement.
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