Wide-ranging crisis management insurance solutions that include product contamination and product recall insurance as well as terrorism and political violence coverage.
Protection for products, people and assets
Whether it is the ever-expanding global supply chain, new risks to ingredients of products or the growing threat of terrorism or political violence in countries around the globe, they all have one thing in common: Companies are increasingly forced to manage issues outside their comfort zone. AGCS has established a dedicated Crisis Management expert team to provide corporate clients tailored insurance solutions in the areas of:
- Contaminated Products & Product Recall
- Terrorism & Political Violence
- Hostile Environment solutions including coverage for Crisis Management services via WorldAware
Contaminated Product and Product Recall Insurance Solutions
In the environment of expanding consumer safety regulation and the increasing complexity of the global supply chain, product recall & contamination continue to present significant and growing risks to companies of all sizes. Such incidents are increasingly common and require a comprehensive Crisis Management approach. Our bespoke Contaminated Products Insurance solution goes well beyond the conventional recall insurance package as it can be tailored to the unique needs of your business.
Substantial long-term costs can be incurred in recalling, replacing or destroying the recalled consumer product and in rebuilding confidence. AGCS has developed a Product Recall Insurance solution, which provides cover for recall and rehabilitation costs following a product recall due to a potential of bodily injury or property damage.
Insuring component parts manufacturers against automotive recall is one of our key strengths. As a global company with more than 40 years of experience in underwriting Automotive Product Recall Insurance, we work closely with our engineers and risk consultants in performing automotive testing. Such an approach is paramount in the environment of growing competitiveness among car manufacturers and shorter development cycles.
Crisis Management Services
AGCS has partnered with WorldAware (formerly red24), a global crisis management assistance company, whose dedicated Food Safety and Product Recall business unit helps our clients with managing their product-related risks and responding to immediate crisis situations such as contamination and recall incidents. Support includes technical product testing in laboratories around the globe as well as advice and support on legal, regulatory and communications considerations.
Terrorism and Political Violence Insurance Solutions
The nature of terrorism and political violence dictates that there is always someone who suffers. Businesses, their staff and their customers are no different. The need to protect assets, whilst also adequately planning for business continuity and operations, is vital, and therefore is firmly on the risk managers’ radars. Insurance has a pivotal part to play.
Although the capability of terrorist groups to launch cross border attacks akin to 9/11 has largely been dismantled, the threat of terrorism remains. The last few years has seen a significant shift in the size of the engagement; from complex international terrorism plots, to an increase in localised, home-grown, focused attacks which clearly illustrate their ability and willingness to adapt.
At AGCS we have recognized the need to offer comprehensive terrorism and political violence insurance solutions, allowing our clients to address these uncertain situations. At the core of our offering is our global network which allows us to provide our clients with International Insurance Solutions.
We assist our clients to close the gap by providing seamless cover along the lines of property, terrorism, SRCC (strikes, riots and civil commotion), war and civil war coverage because in many incidents it may not be clear, which of the perils is triggered. AGCS terrorism and political violence coverage wraps around local pool arrangements in a Difference in Conditions / Difference in Limits fashion, where necessary.
Terrorism & Political Violence Insurance does not only provide stand-alone terrorism coverage, but also offers protection against strikes, riots, and other forms of civil commotion even in politically unstable countries, which are often excluded from such policies. Additionally, protection against war and civil war can be added as an optional coverage component.
Crisis Management Services
Our partnership with the global crisis management assistance company WorldAware allows our customers to rapidly react in emergency situation by deploying WorldAware response consultants at short notice to advise the affected companies and evacuate people on a 24/7 basis, regardless of the location.