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What You Need to Know About Auto Parts Manufacturers & Distributors
Do you understand subtle coverage differences of different insurers?
While automobile manufacturers require auto parts suppliers to have product recall insurance, not all policies are the same. There are subtle yet significant coverage differences between competing insurers in this space, and these differences can have a major impact on your business in the event of a recall.
The financial impact of a product recall in the automobile industry can be significant. Our solutions are designed to protect your company and your bottom line. We are able to give our clients direct access to insurers, resulting in the following benefits:
- Customized policy language and coverage terms.
- Significant premium reductions by eliminating third parties from the transaction.
- Reduction in overhead costs paid by insurers, enabling them to charge lower premium prices.
- Implementation of new endorsements to meet your unique needs when we identify risk exposures not adequately covered by your current insurance.