Insurance News

What are the common misconceptions about product recall coverage?

August 22, 2021 |

We Already Have Coverage Under our General Liability Policy General Liability insurance is a third-party coverage, which typically does not provide coverage for product recall events. Product recall insurance is a first party coverage protecting the insured through reimbursement of financial loss and expenses (which are typically excluded on a general liability policy). Additionally, product…

Recalls and Public Health Alerts

August 18, 2021 |

The U.S. Department of Food & Agriculture Food Safety and Inspection Service protects the public’s health by ensuring the safety of meat, poultry and egg products. FSIS is part of a science-based national system to ensure food safety and food defense. FSIS ensures food safety through the authorities of the Federal Meat Inspection Act, the Poultry Products Inspection…

Don’t let a costly product recall damage your business and your brand

August 16, 2021 |

According to the FDA, nearly 30 product recalls occur every week in the U.S. on average. Recalling, replacing or destroying a consumer product can incur substantial long-term reputational and financial costs for your business. Not only that, news of a product recall spreads like wildfire on social media, so having a product recall policy with…

Do I Need Business Interruption Insurance?

August 16, 2021 |

Most people would never consider opening a business without first purchasing property insurance to cover the cost to repair or replace a building or equipment that’s been damaged due to a covered peril. But too many business owners fail to think about how they would keep their business afloat if they were forced to temporarily…

Product Liability, Recall & Contamination Insurance

August 16, 2021 |

Product liability If your company designs, manufactures, distributes or sells a physical product—anything from toys to building supplies to macaroni and cheese—you’ll want to strongly consider purchasing product liability coverage. This coverage helps provide financial protection in the event that the use of your product results in property damage, personal injury or death. Product liability…

IN: Product Liability, Recall & Contamination Insurance

August 16, 2021 |

Dear Valued Customer, What could possibly be a liability with your product? It could be design, manufacturing, assembly and packaging, directions, warnings and flawed marketing, or issues with the product itself. Whatever the cause may be, product recalls can be costly and logistically complex, as well as damaging to your company’s reputation, so purchasing product…

IN: Is Your Business Adequately Insured For Liability

August 16, 2021 |

Dear Valued Customer, This issue of the “———————–” is focused on ensuring your business is adequately insured for both Property and Liability losses. The purpose of a Commercial Property and Liability policy for the small business is to provide critical financial assistance in the event of a loss, so that the enterprise can continue to operate…

Role Of Property Insurance

August 16, 2021 |

Insurers are in the unique position of having encyclopedic information about the many different ways your business property could be damaged or destroyed, from fire and flooding to embezzlement. Property is also vulnerable as a result of a variety of other events such as electrical surges, accidental activation of a chemical sprinkler system or a…

Do I Need Professional Liability Insurance?

August 16, 2021 |

Professionals that operate their own businesses need professional liability insurance in addition to an in-home business or businessowners policy. This protects them against financial losses from lawsuits filed against them by their clients. Professionals are expected to have extensive technical knowledge or training in their particular area of expertise. They are also expected to perform…

Do You Need Pollution Liability Insurance?

August 16, 2021 |

Dear Valued Customer, There are many ways a construction project could be left with an environmental incident that must be addressed. When everything has been taken into account, the project owner is responsible for any incidents that occur during their project, however,  independent contractors must protect themselves against any claims of damage caused while on…