Product Liability Insurers Will Exclude DMAA From Coverage
- Author Greg Doherty
- Published October 8, 2012
- Word count 408
(Los Angeles, CA): More trouble for DMAA, the controversial ingredient in many pre-workout sports nutrition and weight loss products.
Greg Doherty, Practice Leader of the dietary supplement insurance division of Poms & Associates Insurance Brokers, Inc, today announced that two of the handful of companies offering product liability coverage to the dietary supplement industry will soon be adding DMAA to their respective "ingredient exclusion" list.
"I predicted this over a year ago, and now it’s happening" says Doherty. "There has been too much negative press lately on DMAA, and eventually it was bound to catch the eye of some of the insurance company underwriters. Two carriers will now exclude it, although one has hinted that they may offer coverage for products containing DMAA on a "carveback" basis, which means that based on the type of products being sold, the dosage of DMAA and the volume of DMAA sales as a percentage of overall sales, this carrier might offer DMAA coverage for an additional premium. The key word is ‘might.’ "
Doherty further noted that as ephedra alkoloids got more and more bad press, these "carvebacks" granting coverage were available, but eventually coverage was excluded altogether. Subsequently, the insurance companies paid out millions of dollars for ephedra claims, and they have not forgotten that fact.
"As of right now coverage is still available for DMAA products from other insurers, but my opinion is that the window is closing. It’s really the ephedra insurance coverage story all over again."
"Companies currently selling DMAA and want it to be covered in the future face a real dilemma," Doherty adds. "Because of the claims made nature of product liability policies for dietary supplement companies, the product you sell today will likely not produce a claim until some date in the future. If your future policy has a DMAA exclusion, and that claim rolls in, there won’t be coverage, even though the policy in your file today covers DMAA."
When it comes to an in-depth understanding of the dietary supplement industry, Greg Doherty is Poms & Associates’ mega-multi vitamin of knowledge, experience and reliability.
Just like you've heard the radio commercial say, "When banks compete you win." we say "When insurance companies compete for your business, you win." If you’re in the supplement industry, and want to be sure that your company has the best possible product liability insurance, and experience the personal service you deserve, call Greg directly at 818-449-9317
Greg M. Doherty is a commercial insurance broker based in Los Angeles. He is a specialist on the subject of DMAA exclusion. Doherty can be reached at (818) 449-9317 or gdoherty@pomsassoc.com Website: www.gregdoherty.net
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- Vintage Furniture, Armoires, and Sideboards in Luxury Rentals: Curating Character and Charm
- Hospitality Design and Carved Doors: Crafting First Impressions Through Artistry
- Exercises to Help Plantar Fasciitis in the Foot
- The Foundation of Health: How to Tell if You Need Arch Supports
- The Best COREtec Flooring Colors for Every Design Style
- SEPTIC SYSTEM VS. SEWER SYSTEM: KEY DIFFERENCES EXPLAINED
- “When the Camera Lies: The True Stories Behind Hollywood’s Greatest Myths.”
- The Weight of Deception: Unmasking False Promises in the Weight Loss Market.
- The Silent Saboteur: Unraveling the Health Risks of Being Overweight.
- “Chaos Behind the Camera: Legendary On-Set Feuds and Filmmaking Nightmares That Changed Hollywood Forever.”
- The Expanding Burden: How Excess Weight Reshapes Human Health
- “Alternate Reels: How Cinema Might Have Changed if History Rolled Differently.”
- ICCTA Successfully Completes Second Beijing International Week of Intangible Cultural Heritage
- Weight Loss Myths: The Hidden Truth Behind Why So Many People Struggle to Keep the Weight Off
- CNC Milling In The Prototype-To-Production Process: How It Speeds Up Product Development
- The Hidden Truth About Weight Loss: Why Your Body Resists and How to Work With It.
- “Francis Ford Coppola: Genius and Chaos in the Making of a Hollywood Legend.”
- Why the ARRI Alexa Mini Still Outnumbers Every 4K Flagship on Professional Sets
- Beyond the Scale: The Real Truth About Weight Loss and Weight Management.
- “Marlon Brando: The Actor Who Changed Hollywood Forever.”
- “The Genius and the Scandal: Woody Allen’s Films and the Shadows Behind Them.”
- Grounded Farmhouse Living: The Soul of Vintage Furniture
- “Leonardo DiCaprio: The Reluctant Star Who Redefined Hollywood Stardom.”
- The Grounded Bohemian Home: Hand-Painted Antique Doors & Vintage Furniture
- “Behind the Curtain: The Private World of Raymond Burr.”
- Cabin Decor: A Perfect Mountain Hideaway
- Vintage Carved Wood: Where Ancient Symbols Meet Vibrant Color
- “From Pixels to Projectors: How Video Games Reshaped Modern Cinema.”
- THE TWO MOST BEAUTIFUL WORDS
- Zimbabwe News as a Catalyst: How Informed Journalism is Shaping a New African Reality