Tata AIG unveils cover for product contamination

Mumbai: Tata AIG General Insurance Company has launched a 'contaminated products insurance cover' for marketers of products that are consumed by either ingestion or application.

This product offers cover against two primary components — accidental contamination and malicious tampering, according to a company press release. The plan will cover the direct and indirect costs of analysing and, if necessary, recalling a contaminated product. The recall may be voluntary or mandatory, and can be caused by accidental contamination or malicious tampering.

The policy also covers the costs of inspecting the suspect product, withdrawing it from sale, destroying affected goods if necessary, and its replacement. It also covers the costs of rehabilitation, including losses arising out of lost sales, expense of rehabilitating the product and returning sales to the pre-incident level as well as the fees and expenses of independent crisis management consultants.