Keyword
Product Recall
What’s new with cannabis insurance regulations?
May 18, 2023 by Jason ContantOne MGA is questioning a regulatory change in Ontario that dropped a mandatory requirement for licensed producers (LPs) of cannabis to hold $15 million in product recall insurance and instead raised the commercial general liability requirement to that amount. In…
Product recall insurance demand to rise in 2022, lawyers predict
December 10, 2021 Canadian Underwriter StaffComplex global supply chains, inconsistent regulations across jurisdictions, adoption of automation and the COVID-19 pandemic, will lead to a rise in product recalls, two Borden Ladner and Gervais lawyers said in a recent blog. “We predict 2022 will see more…
Supreme Court sides with Maple Leaf Foods in case sparked by meat recall
November 9, 2020 Jim Bronskill - THE CANADIAN PRESSOTTAWA – A Supreme Court of Canada ruling has dealt a blow to Mr. Sub franchisees in their quest for compensation over losses experienced during a Listeria outbreak. In a 5-4 decision Friday, the top court said Maple Leaf Foods…
Experts say counterfeit hand sanitizer recall is a lesson for retailers
October 22, 2020 Tara Deschamps - THE CANADIAN PRESSTORONTO – Dollarama Inc. is removing a counterfeit and recalled hand sanitizer from its shelves, which experts say should serve as a reminder of how important it is for retailers and consumers to do their due diligence when shopping. “Since…
Product safety: Good for consumers but costly for insurers
October 6, 2020 by Adam MalikThe good news is that Canada has stringent rules around food and consumer products, which makes it no surprise that there can be many recalls. The flip side, however, is that insuring for recalls is taking its toll on the…
Opinion: Why brokers can’t ignore recall insurance for their clients
July 22, 2020 Lucie Dean, CFC UnderwritingBrokers should ensure they are providing standalone product recall insurance options to their clients. Product recalls are a regular occurrence. Without adequate coverage when one takes place, your commercial clients have a large risk exposure on their hands. One recent…
Coverage dispute from 1999 spoiled food recall finally ends
February 24, 2020 by Greg MeckbachTwenty years after a loss resulting from food getting infested with insects, a commercial client has lost its coverage dispute with St. Paul Fire and Marine Insurance Co. The Supreme Court of Canada announced Thursday it had denied leave to…
Insurance hard to obtain for this food processor
December 20, 2018 by Greg MeckbachProduct liability and recall insurance is expensive and hard to place, a large chicken processing firm reported Thursday. Sanderson Farms Inc. said its business carries several risks, including product liability claims, product recalls, property damage and injuries to people. “The…
Risk of Recall
September 15, 2017 Cameron Brady, Assistant Vice President, Product Recall Underwriting, ChubbProduct recalls can have a significant impact on a business, regardless of its industry, size or location. Brokers need to keep abreast of associated risks to inform clients about what insurance coverage should be in place and to help them develop a product recall plan that best suits their needs and exposures.
Larger liability claims expected to become more expensive, complex: AGCS
March 30, 2017 by Canadian UnderwriterThere is increasing potential for “larger liability claims to become more expensive, complex and international, demonstrating the pervasive and long-term nature of liability losses,” suggests a new global claims review released Thursday by Allianz Global Corporate & Specialty (AGCS). Industrial,…
Allied World launches product recall insurance products in North America
April 7, 2016 by Canadian UnderwriterAllied 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…