April 7, 2016 by Canadian Underwriter
Allied World Assurance Company Holdings, AG announced Thursday that the company’s product recall insurance products will be available in Canada and the United States as part of its Global Crisis Management Division.
The product recall insurance offers both first-party and third-party coverage, notes a company statement, and “allows clients to mitigate the risk of recall expenses, adverse publicity and damage to brand reputation, business interruption costs and insureds’ defence costs.”
“We’re delighted to bring this important coverage to the North American market,” Todd Germano, the division’s executive vice president, says in the statement. Allied World Assurance Company Holdings, through its subsidiaries and brand known as Allied World, is a global provider of property, casualty and specialty insurance and reinsurance solutions.
A 30-year veteran of the insurance industry, Tom Mangan (pictured right) will lead the product recall underwriting team and serve both Canada and the U.S. from Allied World’s office in New York City.