Rebounding From a Recall: Insurance Coverage That May Save the Day
March 2, 2010
The recall of certain Toyota vehicles has generated a huge media storm in recent months. With millions of people impacted in some fashion by the problems experienced by the popular automaker, naturally questions abound regarding who will pay for what for recall-related events. Questions have been raised not only about insurance coverage for Toyota owner's vehicles in case of an accident, but also about coverage for the company itself for product recall, D&O, and product liability claims. While we cannot know what coverage or financial provisions Toyota may have, we are using this opportunity to provide a brief overview of coverages that exists for such situations. This article was researched and written by Kelly Maheu, J.D., and Christine G. Barlow, CPCU.
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