Product recall market faces $50mn-$60mn Mars claim
Global confectionery giant Mars is claiming for $50mn-$60mn on its product recall policy after it recalled thousands of chocolate products over fears of salmonella contamination.
Sources told The Insurance Insider Allianz Global Corporate & Specialty (AGCS) leads the London-placed policy with a $25mn layer in excess of a $25mn retention.
It is further understood that Talbot leads the following excess layer, with XL Catlin also on the stack.
more players more capacity in an already saturated line
Product recall market faces $50mn-$60mn Mars claim
Global confectionery giant Mars is claiming for $50mn-$60mn on its product recall policy after it recalled thousands of chocolate products over fears of salmonella contamination.
Sources told The Insurance Insider Allianz Global Corporate & Specialty (AGCS) leads the London-placed policy with a $25mn layer in excess of a $25mn retention.
It is further understood that Talbot leads the following excess layer, with XL Catlin also on the stack.
The policy was brokered by Aon.
.