Dateline: 08/02/1999
SCHAUMBURG, IL, February 8, 1999-- Zurich U.S. today introduces its new Brand Protection insurance featuring a broad range of coverage options and an emergency claims response team to deliver damage control services. Zurich rolls out its Brand Protection product to food and beverage manufacturers this week.
"The biggest fears these customers face," stated Thomas Kaiser, president of International Accounts at Zurich U.S., "are the costly expenses related to a product recall and the long term effects of a damaged reputation. We created Brand Protection coverage to help safeguard a company's reputation and profits by providing assistance before, during, and after an event."
To help prevent a potential product recall or contamination emergency, for example, Zurich U.S. can step in with pre-loss planning. There are several coverage choices with $25 million limits. In addition, Brand Protection provides a single source claims contact to guide customers to crisis management support following an event. The claims contact also activates Zurich U.S. emergency response team members. "We've created a well thought out and well integrated solution for food and beverage customers," Mr. Kaiser added.
Flexible Coverage
Zurich U.S. provides self contained coverage which attaches to a CGL policy. Flexibility lies in the broad range of choices Zurich offers customers in protecting their exposures, including recall expenses, incident response expenses, information expenses, product replacement, product rehabilitation expenses, and loss of net profits.
Single Claims Source
Zurich U.S. operates a dedicated claims team to direct all claims activities related to a product recall incident, and provides customers with a single source claims contact. This claims contact will provide access to crisis management professionals for public relations, legal, and investigative accounting advice.
For more information about Zurich U.S. Brand Protection, readers should contact their broker. Information is also available by contacting Jo Gassett, vice president and Manufacturing Industry Group executive in International Accounts, at 847-605-6475 or at jo.gassett@zurich.com.
Coverage is provided by American Guarantee and Liability Insurance Co. or a non-admitted member of the Zurich U.S. group.
Zurich U.S. is a member of the Zurich Financial Services Group, one of the global leaders in the financial services industry. Providing its customers with products and solutions in the areas of financial protection and asset accumulation, Zurich Financial Services concentrates its activities in four core businesses: non-life insurance, life insurance, reinsurance, and asset management.
Headquartered in Zurich, Switzerland, Zurich Financial Services’ worldwide presence builds on strong positions in its three home markets: the United States, the United Kingdom, and Switzerland. (It is the largest Swiss-based insurance group, the third largest non-life insurer in the UK, and the third largest property and casualty writer in the US. The Group is one of the world's top 10 asset managers with some $403 billion in assets under management.)
With offices in some 60 countries, Zurich Financial Services reaches over 30 million customers and employs more than 68,000 people.
Based on pro-forma consolidated figures for 1997, the Group achieved gross premiums of more than $44 billion. This amount includes insurance deposits as well as premiums from the Farmers Exchanges. The pro-forma net income for the year 1997 amounted to $2.1 billion. On June 30, 1998, the Zurich Financial Services Group had $403 billion on pro-forma assets under management of which $239 billion represents funds managed for third-party institutional and retail customers.
Media contact: Chris Tasher
Public Relations Manager, Zurich U.S.
847-605-6372
chris.tasher@zurich.com
