Liberty International Underwriters has launched a new product recall policy for packagers and co-packers, specifically of topical and ingestible products.
LIU Packagers Protection includes a broad trigger for this type of cover. It offers a form with product recall, product contamination or manufacturing errors & omissions as the potential trigger and is custom taiored large range of the packaging industry, including manufacturers of packaging for food, beverage, pharmaceuticals and personal care (topical and ingestible products) as well as co-packers, fillers and mixed operations that may include both packaging and processing.
“Packagers and co-packers have significant exposure from third-party financial loss due to the nature of their business,” said Louis Lubrano, senior vice president of LIU Global Crisis Management. “The combination of broad triggers and cover for third-party loss of earnings lets us respond to this exposure in a way that is not currently offered anywhere else in the market.”
red24, the crisis management firm that provides LIU policyholders with specialized loss control engineering and loss mitigation services, is also an integral part of this new policy. With red24, LIU, a part of the Liberty Mutual Group, helps brokers secure the coverage that can protect their clients' employees, operations, and reputation before, during and after a crisis.
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