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SELECTRON TECHNOLOGIES, INC. 1
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Last modified
2/6/2017 10:33:54 AM
Creation date
2/1/2017 11:05:15 AM
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Contracts
Company Name
SELECTRON TECHNOLOGIES, INC.
Contract #
A-2014-274-1
Agency
FINANCE & MANAGEMENT SERVICES
Council Approval Date
10/21/2014
Expiration Date
11/17/2017
Insurance Exp Date
1/31/2017
Destruction Year
0
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4, Subject to 3, above, we will pay only the amount of "product recall expenses" In excess of the deductible <br />amount shown in the Product Recall Schedule, <br />Products Recall Schedule <br />Limits of Insurance <br />Product Recall Aggregate Limit $ 50,000 <br />Each Product Recall Limit $ 25,000 <br />Each Product Recall Deductible $1,000 <br />If any limits and deductible other than those above are shown in <br />the Declarations as the Products Recall Expense Limits, the <br />amounts shown In the Declarations will replace the Limits of <br />Insurance and deductible provided for this coverage. <br />The Limits of Insurance for this coverage.apply separately to each consecutive annual period and to any <br />remaining period of less than 12 months, starting with the beginning of the policy period shown In the <br />Declarations, unless the policy period is extended after issuance for an additional period of less than 12 <br />months. In that case, the additional period will be deemed part of the last preceding period for the <br />purposes of determining the Limits of Insurance. <br />b., The following is added to the Duties In The Event Of Occurrence, Offense, Claim Or Suit provision <br />under Section IV - Conditions; <br />You must see to It that the following are done In the event of an actual or anticipated "covered recall" <br />that may result In "product recall expense": <br />1. Give us prompt notice of any discovery or notification that "your product" must be withdrawn or <br />recalled. Include a description of "your product" and the reason for the withdrawal or recall; <br />2. Cease any further release, shipment, consignment or any other method of distribution of like or <br />similar products until it has been determined that all such products are free from defects that could <br />be a cause of loss under this insurance; <br />3. As often as may be reasonably required, permit us to inspect "your product" that demonstrates the need <br />for the"covered recall" and permit us to examine your books and records, Also permit us to take <br />damaged and undamaged samples of "your products" for inspection, testing and analysis; and <br />permit us to make copies from your books and records; <br />4, Send us a signed, sworn, proof of loss containing the Information we requested to settle the claim. <br />You must do this within 60 days after our request, We will supply you with the necessary forms; and <br />5, Permit us to examine any insured under oath, while not In the presence of any other insured and at <br />such times as may reasonably be required, about any matter relating to this insurance or your claim, <br />including an Insured's books and records. In the event of an examination, an insured's answers must <br />be signed, <br />c, The following definitions are added to the Deflpitions Section: <br />1. "Covered recall" means a recall mads necessary because the insured or a government body has <br />determined that a known or suspected defect, deficiency, inadequacy or dangerous condition in <br />"your product" has resulted in orw.ill result in "bodily Injury" or "property damage". <br />2.. "Product Recall Expense" mea re: <br />(a). The following necessary and reasonable expenses you incur exclusively for the purpose of <br />recalling "your product": <br />(1) For communications, Including radio or television announcements or printed advertisements <br />including stationery, envelopes and postage; <br />(2) For shipping the recalled products from any purchaser, distributor or user to the place or <br />places designated by you; <br />VCG 207 1113 includes copyrighted materl&I of Insuronoo Srvicea Office, Inc. Pogo 7 of a <br />Copyright, Oneaeacon Insurance Group LLC <br />M <br />
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