Ironshore Specialty Casualty Intros Claims-Made Form for Product Liability Risks

Ironshore's Specialty Casualty unit is launching a new claims-made policy form for prospective insureds facing unique product liability challenges.

“The current pricing environment and recent product liability cases led to the development of a claims-made option including Recall Reimbursement Expense cover to benefit insureds and our broker partners in meeting the liability coverage needs in diverse industry segments. Ironshore seeks to underwrite coverage in the primary casualty market with a customized solution for product manufacturing risk,” said Tim McAuliffe, president of Ironshore Specialty Casualty. 

Ironshore's “General Liability Claims-Made Advanced” form offers creative coverage solutions and flexible retention structures.

With an ISO format that incorporates many of the 2013 ISO enhancements, Ironshore's General Liability Claims-Made Advanced form introduces a suite of endorsements, which include Crisis Three-Sixty with Recall Reimbursement Expense. This coverage enhancement covers up to $150,000 in expense related costs, in addition to the policy limit, and combines crisis management and recall reimbursement, which addresses specialty risks in the Commercial General Liability marketplace. 

“Our experienced team of specialists can tailor product liability policies to the specific needs of each insured,” said Dawn Puro, vice president of Ironshore Specialty Casualty. 

The targeted industry sectors that would benefit from the claims-made policy form include manufacturers of diverse products such as: industrial valves, consumer products including sporting goods, fabricated pipe and pipe fittings, mining machinery, construction equipment, pumps and pumping equipment, air and gas compressors, and motor vehicle and railroad parts and equipment.