Contaminated product insurance covers the business interruption costs, recall expenses, rehabilitation expenses, consultant and advisor costs and extortion costs for the following covered events:
- Accidental Contamination
- Malicious Product Tampering (MPT)
- Product Extortion
Additional coverage options:
- Product Refusal: protects against the refusal of an insured product during a scheduled delivery because of a report to the public of it to cause bodily injury and because of bodily injury that has been caused by a similar product.
- Third Party Recall: covers any product recall liability of an insured product when consumption or use of the product will result or has resulted in bodily injury or property damage within 365 days.
- Intentionally Impaired Ingredients: covers the contamination or impairment of an insured product which occurs due to an ingredient supplied to the insured where such contamination or impairment was intentional and wrongful, but not malicious. This coverage option may be available by endorsement to a MPT policy.
AIG capacity and limits:
- Capacity up to $25M in accidental contamination coverage and up to $50M in malicious product Tampering/extortion coverage
- Minimum deductible of $25K
- Minimum premium of $15K
