ACE Group subsidiary ACE Westchester has launched a new stand-alone product recall underwriting unit to provide insurance products in response to the increased risks associated with product recalls.
The company also appointed Florian Beerli as senior vice president for its Product Recall Underwriting and will be responsible for delivering integrated insurance solutions in North America to meet the insurance needs related to product recalls.
Beerli will be based in Woodbridge, Connecticut, US and will report to Bruce Kessler, division president, ACE Westchester.
While working with ACE branches throughout the country, Beerli will deliver crisis management services and first-party product recall insurance for consumable products, consumer goods, component parts, and food borne illness for restaurants.
Kessler said: "The new ACE Westchester product recall offering can tailor coverage based on the unique needs of customers."
"Our research of the product recall market has demonstrated that the magnitude of the problem continues to grow, and there is a real need for a product that can mitigate the financial disruption caused by recalls."
The new product offering will also provide reimbursement costs for product and covered third-party expenses associated with consultants, as the result of claims arising from the product recall.
