Consumer Product Recall
Axon’s Consumer Product Recall Insurance policy is designed to protect manufacturers of consumer goods in the event of a product defect or impairment.
With a rising trend in product recalls in the United States, Axon’s Consumer Product Recall Insurance protects the Insured from financial losses which can originate from a product defect, adverse publicity, government recall, malicious product tampering, product extortion demand or property impairment.
The coverage options target the economic impact deriving from recall efforts, replacement or restoration of products, third party recall, loss of gross profit, rehabilitation, marketing, and crisis expert response costs.
INSURED EVENT OPTIONS:
- Adverse Publicity
- Government Recall
- Malicious Product Tampering
- Product Defect
- Product Extortion Demand
- Property Impairment
CAPACITY:
- USD $10 million per Insured Event / Policy aggregate
INSURED LOSSES:
- Pre-Event Loss Mitigation
- Pre-Recall Costs to identify an Insured Event
- Recall Costs
- Third-Party Recall Costs
- Third-Party Recall Liability Costs
- Restore, Replace and Refund Costs
- Crisis Response Costs
- Loss of Gross Profit
- Rehabilitation and Marketing Costs
- Unsupported Product Recall Costs
- Product Extortion Costs
- Claims Preparation Costs
Forms and Endorsements
Application Forms
Marketing Materials
Consumer Product Recall Insurance Submission Information:
Questions: