Product withdrawal / Product recall
The policy will cover liability but what about the costs required to remove the dangerous product from the market? In order to have insurance pay for this, an endorsement needs to be added to the policy which offers a small limit to cover the costs of notification, shipping, temporary staffing, warehousing and disposal. Coverage is available that pays for both mandatory and voluntary product withdrawals and recalls.
 
Worldwide coverage
Certain carriers can offer an endorsement which expands the territory of the policy. Base GL forms will generally only cover claims that are filed in a domestic jurisdiction (usually the US, its territories and possessions, Puerto Rico, and Canada). With this endorsement, a products liability claim that is filed overseas can be covered by the policy without the need for a full foreign package policy.
 
Additional Insured
An endorsement sometimes attached to liability insurance policies that automatically grants insured status to a person or organization that the named insured is required by contract to add as an insured. May apply only to specific types of contracts or entities.

Blanket – Landlords
Gives AI status to any manager or lessor of premises.  Any insured renting real estate needs this as it is almost always a requirement in a lease to add the landlord as an additional insured.

Blanket – Vendors
Gives AI status to any vendor of the insured.  Very important for any insured that sits in a supply chain as a retailer, distributor, or manufacturer.

Designated Organizations
This endorsement adds whatever parties are listed on the endorsement as AIs.  Sometimes we are able to get the designated organizations schedule to simply say “where required by written contract.”  This is the most broad form version a a blanket AI endorsement and provides the most flexibility for the insured.

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11/25/2024