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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

By Arthur D. Postal | Updated on September 26, 2007

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.

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