PGA Insurance Products Liability Policy Covers Damages caused by Your Products

Contaminated products, specifically in the food and beverage industry, are far from few and rare in today’s globalized market. Not only are consumers vulnerable to physical dangers associated with these products, but the businesses providing them wind up losing revenue, reputational management, market share, and consumers’ and shareholders’ confidence.

Incidents such as these push food and beverage companies to employ product recall strategies to minimize further damage to third parties and reduce further liability costs. However, traditional approaches to cover the costs associated with product recalls are often insufficient to indemnify such serious risks.

In this regard, Prudential Guarantee and Assurance, Inc. provides Contamination Protect, a comprehensive insurance package with flexible protection modules catering to customized business needs. This policy safeguards businesses in the food and beverage industry against unforeseen and immeasurable consequences of product recalls, as well as financial consequences resulting from the occurrence of both intentional and unintentional product contamination.

Contamination Protect covers costs arising directly or indirectly from product recalls caused by product defects and/or malicious product tampering. Types of recall covered include public or silent recall, first- or third-party recall, and voluntary or government-ordered recall. In addition, Contamination Protect covers costs associated with media and advertising, transportation, storage, additional staffing, disposal, independent consultancy, marketing and rehabilitation, decontamination, loss of gross, extortion money, and legal procedures.

When done property, a product recall strategy, a thing of critical importance to a company’s continued success, not only protects consumers from harm but also helps defend the company’s reputation in demonstrating reliability and professionalism to the public and their shareholders in times of crises. With PGAI’s Contamination Protect, this, as well as additional liability benefits,  is a guarantee.

For inquiries, please call  Casualty Department at (02) 477-7242/651 -9500/878-3000/ (0917) 592-4533.

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