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Mumbai , Dec 3

TATA AIG General Insurance Company Ltd has launched a `Contaminated Products Insurance cover' for marketers of products that are consumed by either ingestion or application.

This product offers cover against two primary components - accidental contaminations and malicious tampering, says a press release.

The plan would cover the direct and indirect costs of analysing and, if necessary, recalling a contaminated product. The recall may be voluntary or mandatory, and can be caused by accidental contamination or malicious tampering.

The policy also covers the costs of inspecting the suspect product, withdrawing it from sale, destroying affected goods if necessary, and its replacement. It also covers the costs of rehabilitation, including losses arising out of lost sales, expense of rehabilitating the product and returning sales to the pre-incident level as well as the fees and expenses of independent crisis management consultants, the release said.

The plan covers food and agricultural products, juices and soft drinks, cosmetics and lotions, pharmaceutical products and broadly anything that can be ingested or applied that poses a potential threat to health "The financial impact of a product contamination incident, whether accidental or deliberate, could be devastating to any company," the release quoted Mr Dalip Verma, Managing Director, Tata AIG General Insurance as saying.

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