Products Recall Insurance: When The Things That Go Out Have To Come Back In

Richard S. Pitts will join OAPSLO and OIA on Wednesday, Nov. 30th for an informative webinar on Products Recall Insurance. One hour CE has been approved.

All product manufacturers – from those creating sophisticated medical devices to the manufacturer of the most common component parts – have a product recall risk. The costs of a product recall can call into question the very survival of a smaller organization. Is that recall risk insurable?  The answer is yes, it is, but not without some foresight, planning and premium dollars.  Insured manufacturers need to understand that, without significant endorsement, the standard commercial general liability policy (CGL), won’t respond to the costs of a recall.

Rick Pitts is vice president and general counsel for Arlington/Roe & Co., a leading Midwest managing general agent and wholesale insurance broker.  Rick also serves as general counsel to the Independent Insurance Agents of Indiana, Inc. As counsel to the “Big I,” Rick speaks annually at the association’s Agency Compliance seminars and teaches various seminars on insurance and employment related matters. Pitts has also presented continuing education seminars to insurance professionals nationally.