02.14.13
Following its recent rollout of higher liability and other insurance limits, NBTY Inc. has indicated it's willing to be flexible in the enforcement of these requirements, according to Greg Doherty, dietary supplement practice leader at Poms & Associates Insurance Brokers, Inc., Los Angeles, CA.
The new requirements, rolled out in December, include product liability for $3,000,000, commercial general liability for $8,000,000, errors and omissions coverage and cyber liability coverage in the amount of $5,000,000, and auto liability coverage for $1,000,000.
“We had a conference call with NBTY last week to clarify these requirements, and the overwhelming sentiment NBTY expressed to us is that, while these appear to hard and fast requirements, they are willing to discuss exceptions to the guidelines. They have formed an internal committee to review and decide on requested exceptions,” explained Mr. Doherty.
The new requirements, rolled out in December, include product liability for $3,000,000, commercial general liability for $8,000,000, errors and omissions coverage and cyber liability coverage in the amount of $5,000,000, and auto liability coverage for $1,000,000.
“We had a conference call with NBTY last week to clarify these requirements, and the overwhelming sentiment NBTY expressed to us is that, while these appear to hard and fast requirements, they are willing to discuss exceptions to the guidelines. They have formed an internal committee to review and decide on requested exceptions,” explained Mr. Doherty.
