To Learn More Visit - Individuals & Families - Insurance ... · American International Group, Inc....
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American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property- casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds. © American International Group, Inc. All rights reserved. Bring on tomorrow PRODUCT LIABILITY SCENARIO Manufacturer of GPS tracking device To Learn More Visit: www.aig.com/us/productliability Product Liability Service Loss scenario A manufacturer of GPS/tracking units for automobiles sold these units for aftermarket installation. These devices were also marketed as “emergency help lines for potential life and death situations”. The devices would randomly,immobilize vehicles. An investigation of the device revealed a microprocessor/ software error that caused a malfunction in the unit. A change to the software was made after the product was tested and this change negatively affected the unit’s proper functioning. Vehicles that were disabled by the device were towed to service centres for repair or replacement and these products were recalled from the market. Product Liability considerations It is important that products requiring software are properly tested during design and implementation, and also following any software modifications. In this particular case another consideration was the marketing of the product as a `life saving' device. Care should be taken when creating marketing materials with regard to creating consumer expectations against which product performance will be evaluated. How can the AIG Product Liability Service help? The AIG Product Liability Service can help to prevent these types of scenarios. It has a series of training programs on the subject of product safety risk assessments – what they are and how they are carried out. This is vital training for those involved in developing products and for buyers of products and components. UC10000736
Transcript of To Learn More Visit - Individuals & Families - Insurance ... · American International Group, Inc....
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds. © American International Group, Inc. All rights reserved.
Bring on tomorrow
PRODUCT LIABILITY SCENARIO
Manufacturer of GPS tracking device
To Learn More Visit:www.aig.com/us/productliability
Product Liability Service
Loss scenarioA manufacturer of GPS/tracking units for automobiles sold these units for aftermarket installation. These devices were also marketed as “emergency help lines for potential life and death situations”. The devices would randomly,immobilize vehicles.
An investigation of the device revealed a microprocessor/software error that caused a malfunction in the unit. A change to the software was made after the product was tested and this change negatively affected the unit’s proper functioning.
Vehicles that were disabled by the device were towed to service centres for repair or replacement and these products were recalled from the market.
Product Liability considerationsIt is important that products requiring software are properly tested during design and implementation, and also following any software modifications. In this particular case another consideration was the marketing of the product as a `life saving' device. Care should be taken when creating marketing materials with regard to creating consumer expectations against which product performance will be evaluated.
How can the AIG Product Liability Service help?The AIG Product Liability Service can help to prevent these types of scenarios. It has a series of training programs on the subject of product safety risk assessments – what they are and how they are carried out. This is vital training for those involved in developing products and for buyers of products and components.
UC10000736
