Target Clients

  • Manufacturer of automotive components (including “safety-critical”)
  • Manufacturer of precision engineerednon-automotive components
  • Manufacturer of electronics/hardware components

3 Types of Coverage Features

  • Bronze
    • First Party (Insured) only costs of physically recalling products because their use or continued use could cause third party bodily injury and/or property damage.
    • Legal costs, fees and expenses incurred in the investigation, defense or settlement of any valid claim.
  • Silver
    • First Party (Insured) and Third Party costs of recalling and replacing products because their use or continued use could cause bodily injury and/or property damage and/or product failure.
  • Gold
    • First Party (Insured) costs of reworking and/or replacing products that have failed to perform their intended function after handover.
    • First and Third Party costs of recalling and replacing products because their use or continued use could cause bodily injury and/or property damage and/or product failure.
    • Financial losses suffered by a Third Party as a result of a product supplied failing to perform its intended function and for which the Insured is legally liable.

Underwriting Considerations

  • Limits available up to $10,000,000
  • Minimum premium: $7,500
  • Minimum deductible: $10,000
  • Backed by Lloyd’s of London

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This product is only available for vehicles registered in Quebec.