Discontinued Products
Our Discontinued Products program is designed to provide coverage of occurrences and damage occurring after the end of CGL coverage when the business ceases operations. It can be a critical coverage for certain businesses such as specialty manufacturers where occurrences, damage and injury can, and often do, happen well after the business is no longer an active business.
Our Discontinued Products policy is typically offered on a declining percentage of the annual CGL premium. So, as an example, in the first year the coverage may cost the same as the CGL policy, 10-25% less in the second year, less in the next year and so on. The coverage is often tailored to state law limitations periods such as repose statutes or statutes of limitations. If the state law is that a builder cannot be sued ten years after completion of a building, than discontinued operations insurance would be tailored to a ten year period.
The target classes for our Discontinued Products policy are as follows:
AUTOMOTIVE PARTS
COSMETICS, SKIN & HAIR PRODUCTS
ELECTRICAL EQUIPMENT
EXERCISE EQUIPMENT
FURNITURE
IMPORTERS & DISTRIBUTORS
MACHINERY & EQUIPMENT
NON-INVASIVE MEDICAL PRODUCTS
SPORTING GOODS
TOYS
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Provider Type:
Excess & Surplus Lines Broker
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Carrier Ratings:
"A" or better
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Commission:
Varies with carrier
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Min Premium:
Varies with carrier