Product liability & Recall
This policy covers expenses associated with recalling a product from the market. Product recall insurance is typically purchased by manufacturers such as food and beverage, toy and electronics companies to cover costs such as customer notification, shipping costs and disposal costs. Coverage generally applies to the firm itself, though additional coverage can be purchased to cover the costs of third parties.hinery, industrial plants, steel works and/or structure as well as third (3rd) party property and/or bodily injury arising in connection with the erection work. The cover may include Civil Engineering Works, Equipment for Erection, Removal of Debris, Professional Fees and Principal's Existing Property. Duration of cover corresponds with the contract period which is stipulated in the Letter of Award. This ,policy will pay those sums that the insured becomes legally obligated to pay as damages because of "bodily injury" or "property damage" included within the products-completed operations hazard" to which this insurance applies.