Ironshore Specialty Casualty has expanded its crisis management coverage to include a product recall enhancement for manufacturers.
With recall reimbursement expense, Ironshore’s Crisis ThreeSixty provides a crisis management facility to enable clients to provide an effective response to the circumstances surrounding the potential impact of a product recall.
The company said that the new policy enhancement provides clients a no cost service that enables them to receive input from specialists who can assist an organization with its response to the issues arising from a product recall.
The expanded coverage comprises expenses incurred to recall, inspect or dispose of a product because of a Crisis ThreeSixty event.
Ironshore Specialty Casualty has joined hands with red24assist, recognized specialists in the field of product recall incidents, who will manage these services. Red24assist will also provide Ironshore clients with pre-event input focusing on assessment, safety planning and inspection processes.
Ironshore Specialty Casualty vice president said, "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.
"The expansion of the Crisis ThreeSixty program to address product recall is yet another innovative solution to help clients manage potentially damaging reputational exposure and financial loss resulting from such an event."