Product Guarantee & Recall
The number of cases where faulty products have led to personal injury and
property damage has increased dramatically in recent years.
In today’s litigious climate, manufacturers are increasingly aware of their
responsibilities to monitor products. As a result, the number of product recalls
is on the rise. Likewise, the chances of products being maliciously damaged has
increased and we realize the serious implications this can have on an organization.
Lockton designs sophisticated programs providing protection against the costs
involved in reworking, replacing or recalling products where the product has
“failed to perform their intended function.”
Protection is also necessary where there is good reason to believe that the
products will fail or cause third party bodily injury and/or property damage.
Our team specializes in placing the most suitable insurance cover to meet your
needs and we can provide assistance in the following areas:
- Cost of replacing, reworking or recovering products
- Liability arising from advice, design and consultancy provided directly in connection with the supply of products or works of a tangible nature
- Costs of financial losses suffered by customers and/or third parties
- Costs incurred in recall and reworking of products
- Cover can apply to either "accidental" or "deliberate" contamination.
The key industries for which this cover is essential include:
- Automotive manufacture including components
- Construction materials
- Electrical
- Food & drink
- General engineering
- Packaging
- Perfume and cosmetics
- Pharmaceuticals
- Toy makers
Proposal Form
Click here for a
Proposal Form.
Information
Click here to view our
Recall Flyer.
Lockton Service
The key to our success is working in close partnership with each of our clients. Our specialists take time to listen and to understand your specific goals so that we deliver insurance solutions tailored to your requirements. This approach has earned us the trust of clients all over the world.
The same team that designs, negotiates and implements your business insurance plan with the carrier is also responsible for managing your service needs. This dedicated team approach increases our understanding of your business, allows us to anticipate your needs, and creates accountability and ownership by the team throughout the entire process.
Most insurance brokers promise a high-level of personalized service, but our unique structure allows us to actually deliver on that promise everyday. As a private, family-owned company, all our Associates focus solely on you, our client, rather than public shareholders.
We firmly believe we get business based on our expertise, creative solutions and outstanding service. Just as importantly, our client retention rate of 95 percent reflects our commitment to each and every client.