Product liability and recall costs
The automotive industry has a series of very specific risks and challenges. On the one hand, the entire industry is oriented from the automobile manufacturer to the supplier. Delivery chains across countries and strong dependencies among all the parties involved are the order of the day. Highly complex contracts that are continuously amended and expanded govern the business relationships. Complaints can lead to warranty claims with serious repercussions
, which is why product liability and recall coverage are among the GOTEC Group’s special insurance-related focus areas. As such, GOTEC Plastics offers premium risk protection as an integral component of the group structure.
General and product liability insurance
- up to €25 million per incident and year
- up to 5 years after contact expiry
- up to 5 years after delivery
Motor vehicle recall cost insurance
- up to €10 million per incident plus €15 million annually in total
- up to 5 years after delivery
- includes increasing costs and recalls by third parties
Contact us
