McLarens and AXON Shake Up Claims Management in the Product Recall Market
Product recall claims tend to be low frequency, but high severity events and are typically not sufficient to allow for full-time product recall adjusters to staff an insurance carriers in-house team.
- Product recall claims tend to be low frequency, but high severity events and are typically not sufficient to allow for full-time product recall adjusters to staff an insurance carriers in-house team.
- The joint AXON and McLarens claims administration program for product contamination and recall related claims provides access to 100% local product recall expertise, from underwriting to claims management.
- It assures that their claims will receive local product recall claims expertise and decision-making in the evaluation and adjustment of claims which typically involve liquidity issues.
- Product Recall/Contaminated Products Insurance claims are often complex, requiring specialized claims professionals, added Alex Pittignano, Senior Vice President at Axon Crisis Management Division.