XL Insurance Bermuda (XLIB) has launched its new broad-form product contamination policy.
XLIB said that the new policy has been developed to address the evolving regulatory and food safety environment that many North American food and beverage companies face.
The new policy goes further than standard product contamination policies by offering coverage for government recalls including mandatory or forced recalls.
The features of the new product policy includes: accidental contamination; malicious contamination; product extortion; forced and/or government recall; adverse publicity; and priority 24/7 crisis management through Response XL.
XLIB chief casualty underwriter Beth Piggott said that the new policy has been launched to provide broad and contemporary cover to respond to today’s regulatory environment and the growing capacity needs of companies seeking high limits.