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Article: BestWeek: How Insurers Could Help Peanut Butter Out of Its Jam.
- Article from:
- Insurance Business Weekly
- Article date:
- March 15, 2009
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The recent recall of more than 2,100 products containing peanut butter potentially contaminated with salmonella highlights how companies can use insurance to protect themselves from recall costs, industry experts said in this weekEs BestWeek U.S./Canada.
oProduct recall or product contamination insurance is a quickly growing area of insurance overall. ItEs probably growing by 30% a year,o said William W. Harrison, managing director of AonEs Crisis Management Practice. The total market for recall insurance is estimated by those in the industry to be from about $150 million to $250 million. The industry generally offers limits of up to $50 million per policy, ...