Recall

shoulder-group

Product Guarantee, Product Recall and Financial Loss

Houlder has been active in this field since the 1970s and, through a process of constant review and refinement, has remained a market leader ever since.

Cover is available for a wide range of industries including food and drink, general wholesale and distribution, general manufacturing, automotive and engineering.

Cover can be tailored to cater for the assured’s own losses and/or that of the assured’s customers.

Product Liability

A Product Liability section is also available, but it should be noted that it is on a claims made basis.

Product Guarantee

Costs of replacing/reworking/recovering products that have failed to perform their intended function due to faulty design, manufacture, installation etc, after handover to a customer.

Financial Loss

Costs of meeting financial losses suffered by customers or third parties as a direct consequence of a product “failing to perform” (as under the Products Guarantee section)

Recall

Costs incurred in recalling products where their continued use or consumption may cause the Insured to incur a legal liability either by reason of the products having failed to perform their intended function (as under the Products Guarantee section), or the possibility that their use or consumption could cause bodily injury etc, and/or property damage.

For further information please contact:

Mike Kanemkane@houlder.co.uk
+44 (0)20 7980 3961

Peter Watsonpwatson@houlder.co.uk
+44 (0)20 7980 3959

Contaminated Products Insurance

Accidental Contamination

Where a recall is instigated – because the use or consumption of the named product has led / will lead to bodily injury, sickness, etc – cover is available for the assured’s own costs following accidental contamination of a product it has manufactured.

Cover extends to the assured’s own loss of profit etc as per the policy definition.

Malicious Contamination

When actual alleged or threatened contamination of the Insured product gives reasonable cause to consider the Insured product to be unfit or dangerous for its intended use.

Cover responds (as above) to contamination that has occurred due to a malicious act.

Extortion

Cover applies (as above) for the costs incurred due to extortion, or the threat of extortion, involving the assured’s products.

Cover summary

  • Pre-Recall Expenses
  • Product Replacement Costs
  • Product Rehabilitation – Food and Drink
  • Gross loss of profits – Risks Only

For further information please contact:

Mike Kanemkane@houlder.co.uk
+44 (0)20 7980 3961

Peter Watsonpwatson@houlder.co.uk
+44 (0)20 7980 3959

Claims

We at Houlder pride ourselves with the after sales service we provide our clients. One of the most important aspects of that service is to provide an efficient claims service. The following is a guide to help you deal with a claim, and to advise some of the obligations a policyholder has to comply with, these being imposed by both Underwriters and Law Courts.

In an ideal world it would be useful for people to read this web page prior to a claim occurring! But hindsight is a wonderful thing!

The most important thing to remember is that the majority of policies will have something along the lines of ‘It is a condition of the policy that any incident that may give rise to a claim is reported as soon as the Insured are aware’ We would urge all policyholders if they are uncertain whether to report an incident to contact us.

It is also important that no form of correspondence be entered into with a claimant. All communications received by a policyholder must be forwarded to us immediately unanswered.

When a policyholder is faced with a claim it can be for many reasons, one thing for sure is that it will be not be pleasant and could interfere with business and seriously affect the firm/company cash flow. Underwriters have many specialists at their disposal to assist the policyholder during what can be a traumatic period. The sooner these specialists are deployed the sooner they can assist and the sooner the policyholder will (a) get the benefit of their policy and (b) be able to get on with the daily affairs of running their business.

The most important thing to remember is if you are in any doubt notify. You will not be penalized now or in the future for notifying an incident that does not give rise to claim. Our advice is free.

For further information please contact:

Mike Kanemkane@houlder.co.uk
+44 (0)20 7980 3961

Peter Watsonpwatson@houlder.co.uk
+44 (0)20 7980 3959