Fast innovation, heavy cost pressure, a multitude of legal requirements and numerous interfaces are characteristic of the intensely competitive everyday production life of automotive suppliers. When vehicles are recalled because of a defective part, suppliers have to assume that claims will be made against them, e.g. in the form of recourse. Companies can cover this liability risk with the new Automotive Supplier+ policy. Cover has been enhanced to include additional replacement costs and other cost items. The supply company will also benefit from increased transparency and legal security since security and other measures will be uniformaly assessed for the benefit of the customer.


Insurance cover at a glance

The Automotive Supplier+ policy offers suppliers insurance cover for, among other things, vehicle recalls that must be carried out due to a defective supplier part. The affected vehicle manufacturers or automotive suppliers can make recourse claims against the supplier responsible for the resulting recalls. For this reason, HDI has considerably improved the benefits of the original Automotive Supplier policy, which is still available. The following costs are now also covered:

  • Travel costs, holiday and weekend surcharges for dispatched installation personnel, costs of installation supervision, costs for work equipment and additional items such as screws, nuts and gaskets
  • Costs to determine whether the overall product works properly after replacement 
  • Costs to dispose of dismantled products

Insurance cover no longer distinguishes between obligations as a consequence of law of torts or contractual obligations. As a result, the policyholder benefits from broader coverage and a higher degree of legal security. At the same time, there are no differences in deductibles and sums insured.


Highlights

Improved cover for vehicle recalls

Additional insured costs in the event of recourse claims by vehicle manufacturers or automotive suppliers.

More legal security in the event of a claim

Increased transparency

Extended scope of cover

Coverage of additional cost items


Expert tip:

Transparency agreement for safeguarding against liability risks

The value-added share of automotive suppliers in the manufacture of motor vehicles has risen steadily. At the same time, increasingly shorter development and testing times are increasing the speed of innovation in the automotive supply industry. Accordingly, responsibilities are increasingly shifting to companies. New liability agreements are being developed that in part deviate from legal liability. HDI supports interested customers in safeguarding against liability risks in the context of a transparency agreement.

Would you like to find out more about industry activity and liability cover? Just talk to our liability experts!