Aviation Product Recall
Hiscox has been selected by The Aircraft Builders Council Board of Trustees as the carrier to offer product recall coverage for ABC insureds and other qualifying manufacturers.
ABC and Hiscox have put together the first industry-specific recall risk policy for aircraft component manufacturers. The policy is aimed at Tier 2, 3 and 4 suppliers to the industry with sales of less than USD 1 billion producing components ranging from simple bearings or fasteners to complex avionics. This market-leading product has been designed to fit exactly to aviation component part manufacturers contractual exposure.
The Lineslip renewed on 1st January 2021 and placed 100% with a limit of USD20m. Hiscox is the lead underwriter with Global Aerospace as following underwriter.
What differentiates ABC’s Aviation Recall insurance? Unlike many other product recall insurers, we have worked with the aviation industry to develop bespoke and easy-to-understand policy wordings. We have extensive knowledge of the product recall and warranty world with dedicated underwriters.