BOSTON--(EON: Enhanced Online News)--Liberty International Underwriters® (LIU), part of Liberty Mutual Insurance, has launched LIU Packagers Protection, a new LIU Product Recall policy for packagers and co-packers.
“The combination of broad triggers and cover for third-party loss of earnings lets us respond to this exposure in a way that is not currently offered anywhere else in the market.”
Designed specifically for packagers and co-packers of topical and ingestible products, the unique LIU Packagers Protection policy provides a broad trigger in the market for this type of cover – offering a form with Product Recall, Product Contamination or Manufacturing Errors & Omissions as the potential trigger. It is custom tailored for a broad range of the packaging industry, including manufacturers of packaging for food, beverage, pharmaceuticals and personal care (topical and ingestible products) as well as co-packers, fillers and mixed operations that may include both packaging and processing.
“Packagers and co-packers have significant exposure from third-party financial loss due to the nature of their business,” said Louis Lubrano, senior vice president of LIU Global Crisis Management. “The combination of broad triggers and cover for third-party loss of earnings lets us respond to this exposure in a way that is not currently offered anywhere else in the market.”
red24, the crisis management firm that provides LIU policyholders with specialized loss control engineering and loss mitigation services, is also an integral part of this new policy. With red24, LIU helps brokers secure the coverage that can protect their clients’ employees, operations, and reputation before, during and after a crisis.
Brokers and agents can contact Mr. Lubrano directly at 212-208-9543 or firstname.lastname@example.org.
About Liberty Mutual Insurance
"Helping people live safer, more secure lives" since 1912, Boston-based Liberty Mutual Insurance is a diversified global insurer and the third largest property and casualty insurer in the U.S. based on 2012 direct premiums written as reported by the National Association of Insurance Commissioners.
Liberty Mutual Insurance also ranks 81st on the Fortune 100 list of largest corporations in the U.S. based on 2012 revenue. As of December 31, 2012, Liberty Mutual Insurance had $120.1 billion in consolidated assets, $101.5 billion in consolidated liabilities, and $36.9 billion in annual consolidated revenue.
Liberty Mutual Insurance offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, property, commercial automobile, general liability, global specialty, group disability, reinsurance and surety. Liberty Mutual Insurance (www.libertymutualinsurance.com) employs over 50,000 people in more than 900 offices throughout the world.
Liberty International Underwriters is the marketing name for the broker-distributed specialty lines business operations of Liberty Mutual Insurance. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. This literature is a summary only and does not include all terms, conditions, or exclusions of the coverage described. Please refer to the actual policy issued for complete details of coverage and exclusions.