Manufacturing errors and product recall costs have traditionally exposed manufacturers to potential economic loss. There are increasing contractual pressures for manufacturers to evidence errors and omissions and product recall insurance in order to win supply contracts. Additionally, recalls are occurring on a more regular basis, making the need for coverage more important and valuable. 

Usually these two types of exposure are covered under different policies and often from different insurers. As a result, manufacturers may be faced with significant economic loss only to find their respective errors and omissions and product recall insurers unable to agree which policy is responsible for payment of the claim. 

In response, Miller can now exclusively offer access to an integrated policy for manufacturers which is designed to address the potential gaps between separate product recall and error and omissions policies. The integrated policy combines both coverages on one policy-form and no gaps means increased efficiency and contract certainty.

Core coverages 

•  Manufacturers’ errors and omissions (third-party cover) - providing coverage for third-party financial losses resulting from an error committed by a manufacturer when they are carrying out their professional services.

• Product recall (first-party cover) - providing first-party coverage to protect the insured’s balance sheet and cashflow by reimbursing them for expenses and other financial losses resulting from an insured event which are typically excluded on a general liability policy. 
• The policy is triggered by a voluntary, involuntary or mandatory stock recovery, market withdrawal or recall (by, or on behalf of the insured or its regulatory body) of an insured’s product because its use has resulted (or would result) in bodily injury or property damage or its use has resulted in (or would result in) impaired property. 
• Covers all products that are in production, processed, manufactured, handled and distributed by the Insured or on behalf of the Insured. 

The combined policy could be appropriate for any organisation that is directly responsible for manufacturing or working with companies in the sector. Once we have initial information, we can provide terms within 48 hours.