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Liberty International Underwriters Adds Manufacturers’ Errors and Omissions Endorsement to its Product Recall Policy

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Liberty International Underwriters Adds Manufacturers’ Errors and Omissions Endorsement to its Product Recall Policy Powered By Docstoc
					Liberty International Underwriters Adds
Manufacturers’ Errors and Omissions
Endorsement to its Product Recall Policy
November 08, 2010 09:10 AM Eastern Time  

BOSTON--(EON: Enhanced Online News)--Normally sold as a stand-alone professional liability policy, the new
manufacturers’ errors and omissions (ME&O) endorsement from Liberty International Underwriters (LIU) marks
the first time this coverage can be included in a product recall policy. The new endorsement provides coverage for
situations where a third party suffers financial loss due to the insured’s manufacturing error.

With up to $5 million in limits, LIU’s new endorsement makes it easier for agents and brokers to help their clients
manage supply chain risks. The broader insurance policy also helps eliminate coverage gaps that can exist between
separate product recall and ME&O policies.

“By providing claims-made financial loss coverage for the insured’s manufacturing processes, this policy covers a
larger portion of a company’s manufacturing operations,” said Louis Lubrano, senior vice president of U.S. crisis
management for LIU. “We developed this unique endorsement to give agents and brokers a more expansive policy
to offer their clients. ” 

LIU’s ME&O endorsement will cover claims made against the insured for financial loss of others such as loss of
profit, additional advertising expenses, shipping, restocking and other related expenses incurred due to the insured’s
manufacturing error or omission.

For more information on the LIU’s ME&O endorsement, contact Louis Lubrano at louis.lubrano@libertyiu.com or
Philip Rorty at philip.rorty@libertyiu.com.

About LIU

Liberty International Underwriters (LIU) is the global specialty lines division of the Liberty Mutual Group. www.liu-
usa.com

About Liberty Mutual Group

Boston-based Liberty Mutual Group is a diversified global insurer and fifth largest property and casualty insurer in
the U.S. based on 2009 direct written premium. The Company also ranks 71s t on the Fortune 500 list of largest
corporations in the U.S. based on 2009 revenue. As of December 31, 2009, Liberty Mutual Group had $109.5
billion in consolidated assets, $95.0 billion in consolidated liabilities, and $31.1 billion in annual consolidated revenue.

Liberty Mutual Group offers a wide range of insurance products and services, including personal automobile,
homeowners, workers compensation, commercial multiple peril, commercial automobile, general liability, global
specialty, group disability, assumed reinsurance, fire, and surety. Liberty Mutual Group
(http://www.libertymutualgroup.com) employs over 45,000 people in more than 900 offices throughout the world.

Contacts
Liberty Mutual Group
Adrianne Kaufmann, 617-574-5983
adrianne.kaufmann@libertymutual.com
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Description: BOSTON--(EON: Enhanced Online News)--Normally sold as a stand-alone professional liability policy, the new manufacturers’ errors and omissions (ME&O) endorsement from Liberty International Underwriters (LIU) marks the first time this coverage can be included in a product recall policy. The new endorsement provides coverage for situations where a third party suffers financial loss due to the insured’s manufacturing error. With up to $5 million in limits, LIU’s new endorsement makes it easier a style='font-size: 10p
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