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Member, Beacon International Group, Ltd.
Ironshore Specialty Casualty, a unit of Ironshore Inc., has expanded its crisis management coverage to include a product recall enhancement for product manufacturers.
The product, Crisis ThreeSixty, offers a crisis management feature to help clients provide a response to the potential impact of a product recall and includes recall reimbursement expense, the Hamilton, Bermuda-based insurer said in a statement Monday.
The expanded coverage includes expenses incurred to recall, inspect or dispose of a product because of a Crisis ThreeSixty event, and coverage is provided on a first-dollar basis, according to the statement.
The enhancement gives clients free service that allows them to get advice from specialists who can help an organization with its response to a recall, the insurer said.
Product recall incident specialists red24assist will oversee these services, and red24assist will offer Ironshore clients pre-event advice focusing on assessment, safety planning and inspection processes, according to the statement.
“Ironshore clients recognize that crisis preparedness for an unexpected product recall directly impacts how the company ultimately responds to minimize marketplace disruption and control costs associated with the event,” Dawn H. Puro, vice president of Ironshore Specialty Casualty, said in the statement.