Search
 

Recall Insurance Seen Scarce For Foreign Products

Tom Coughlin, director of marketing for Willis Corp., N.A., said the industry lacks the resources to provide all the coverage that would be required to comply with the legislation, which was introduce

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON–Insurers have limited capacity to provide product recall insurance that a new Senate bill could require foreign product distributors, a broker is warning.

Tom Coughlin, director of marketing for Willis Corp., N.A., said the industry lacks the resources to provide all the coverage that would be required to comply with the legislation, which was introduced Sept. 20 by Sen. Sherrod Brown, D-Ohio, and Sen. Bob Casey, D-Pa.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.