Mumbai, Dec 03: Tata AIG General Insurance Company today launched the first of its kind contaminated products insurance cover for marketers of products that are consumed by either ingestion or application. The product offers insurance coverage against accidental contamination and malicious tampering, a company release here said.
The CPI plan would cover 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 or malicious tampering. In addition, the plan also covered the costs of rehabilitation, it said.
"The plan covers food and agricultural products, juices and soft drinks, cosmetics and lotions and pharma products."
Managing director Dalip Verma said this policy had been designed to provide a comprehensive cover keeping in the mind the unique risks and challenges that the organisations were exposed to. Bureau Report