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Daily Insurance Industry News
Thursday 20th of September 2018
February 16, 2010

Zurich Global launches Product Safety and Recall proposition

by Gill Montia

Story link: Zurich Global launches Product Safety and Recall proposition

Zurich Global launches Product Safety and Recall proposition

Zurich Global Corporate UK (ZGCUK) has announced the launch of a new Product Safety and Recall proposition.

According to the insurer, the move is in response to increasing customer demand and the offering should compete strongly against the more standardised solutions currently available in the market.

The proposition combines globally compliant insurance protection with a range of complementary consultancy services, including those provided by Zurich’s in-house risk engineering experts.

It also provides cover to compensate customers for the financial impact of a product recall incident arising through a breach in product safety controls, malicious product tampering, or product extortion.

The group’s head of product recall, Simon Plumridge, comments: “Businesses are facing increasingly complicated product safety challenges, which commonly feature more stringent legal and regulatory environments, extended supply chains and greater consumer awareness.”

He adds: “We are particularly proud to be the only insurer with ‘in-house’ consultancy … this is a testament to the depth of product recall expertise at Zurich which is now being delivered to our customers through this comprehensive offering”.

In other ZGCUK news, the company recently bolstered its Marine Cargo team with the appointment of two senior market underwriters.

Rod O’Malley and John Gibson have both joined the London-based team from Allianz.

 

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