1. If my client has a full limit loss, are your Crisis Consultants costs payable in addition to the limit or will my client have to wear these costs?
Our policy provides unlimited cover for Crisis Consultants costs in addition to the aggregate limit purchased.
2. If my client has product rejected by a Government entity in China because they believe that a product supplied by the client would cause bodily injury even though there is no definitive evidence implying such, does this trigger the policy?
Yes, under the Government Recall Insured event trigger, if the entity is deemed to be a Competent Authority as defined under the policy, then this would trigger the policy.
3. If my client has incorrectly designed some packaging material that results in the ink on the packaging leaving the ingredient list illegible, would this trigger the policy?
If the fact that the customer cannot read the ingredient list results in the bodily injury definition being met (for example if the product contains an allergen), then the policy would be triggered.
4. My client supplies to major retailers like Woolworths, Coles and Aldi. If they had to recall their product and these retailers charged a per store administration fee to remove the product from supermarket shelves, would these charges be covered?
Yes, they would. The policy covers all reasonable and necessary costs to inspect, withdraw and destroy affected product in the event of a contamination or other issue that triggers the Policy. These costs are specifically noted as covered under the Recall Costs section and are also covered under Customers Recall Costs.
The above questions are just a snapshot of the many that we have received relating to our Product Recall Insurance offering, proving that tailoring the product to meet the client’s exposure is paramount in order to protect a client’s reputation and balance sheet.