McLarens and AXON Shake Up Claims Management in the Product Recall Market
Offer industry’s first fully outsourced product recall claims administration services
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 carrier’s in-house team. The financial benefits for full-time experts are hard to justify yet the related claims require major support combined with a highly specialized skillset. Often, insurance carriers tend to have GL claims handlers manage these types of claims and/or they rely on outside loss adjusters who are managed and controlled by in-house adjusters.
Compelling Benefits
The joint AXON and
“With the COVID-19 pandemic still on the rise and related travel restrictions, there is a greater need than ever for local claims adjusting solutions combined with expertise when a product recall crisis arises,” commented
“Product Recall/Contaminated Products Insurance claims are often complex, requiring specialized claims professionals,” added
The new claims administration service is already available to domiciled clients in
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