
Automotive Product Recall É«¶à¶àÊÓÆµ
Car companies are under ever greater scrutiny from governments, media and the public as the number of global automotive recalls has grown in recent years and is gaining regulators’ attention. To off-set their own risk the car companies (Original Equipment Manufacturers – OEMs) will often pass the liability for their recalls down the supply chain to the component part manufacturer responsible for the defect in the vehicle. This could result in a devastating financial impact for the supplier if the right cover is not in place.
Risk Consulting
Risk consultants providing comprehensive risk management solutions based on an understanding of client business priorities and goals.
Learn MoreCoverage
- Product recall expenses, such as disposal, replacement, advertising and transport
- Pre-recall expenses
- Third party recall expenses
- Government recalls
- Business interruption
- Loss of gross profits/revenue
- Accidental contamination
- Product rehabilitation
- Increased cost of working after a recall
- Extortion demands related to malicious tampering
- Terrorism cover
- Consultancy costs
Benefits and Services
- 24/7 pre-incident consultant and crisis response
- Primary, excess of loss and quota share participation
- Financial strength to help protect balance sheets
- Dedicated industry expertise with an average of 20+ years of industry-specific risk management experience
- Risk engineering services and programs
- Global claims network
- Price competitiveness