Product recall is often specifically excluded from Products Liability cover, leaving a business vulnerable to any product recall loss.
LIU Singapore offers a customised Product Recall policy for automobile components.
At a glance:
- Cover for exports to the USA and Canada
- Ability to include Product Guarantee
- Ability to cover critical components
- Losses include:
- recall costs (both retailer and customer)
- replacement, refund and repair costs
- customer loss of profits (by endorsement)
- consultant and advisor costs
- defence costs
- Customised for individual client’s needs.