Oona Cremata is the Vice President & Chief Claims Officer of Berkley Global Product Recall, a Berkley Company, that provides worldwide insurance protection and technical assistance with the prevention, management and indemnification of product recall and contamination events. In her current role, Oona has created a ground up claims operation focused on providing exceptional service and support.
Oona has worn many hats during her fifteen year insurance career, using each opportunity to hone her soft skills and focus on meeting customer needs. Oona’s insurance career began in E&O and Crisis Management claims in New York. In 2004, she headed west to Los Angeles for opportunities in underwriting, marketing and broking Crisis Management, International Casualty and Global Property business.
In 2015, Oona returned to Product Recall and Contaminated Products claims handling where she brings her extensive service experience, technical knowledge, creative problem solving and resourcefulness to bear for clients. Oona holds a B.A. in English Literature from the University of Pennsylvania and a J.D. from Cornell Law School. Oona was admitted to the New York bar in 2004.
Oona M. Cremata
VP, Chief Claims Officer
Product Recall Loss Example
Bodily Injury – Arts and Crafts Paints
Scenario: Arts and craft paints were found to be contaminated by harmful bacteria. The contamination reached detectable levels after the product was shipped to retail outlets. After several consumer complaints, the product was tested and the source of the contamination was determined to be imported dyes. In addition to recalling the product, the company was forced to stop production, conduct an investigation and clean the production lines.
Projected Loss: Costs related to the investigation. Recall costs of both the manufacturer and retail customers. Cost of the products. Loss of profits (by endorsement) as a result of production shutdown during the investigation into the source of the contamination. Third party loss mainly consisting of retailer lost profits.
Product Contamination Loss Example
Contaminant: Foreign Substance
Scenario: Packaged fruit snacks were found to be contaminated by a foreign substance. The contamination reached detectable levels after the product was shipped to retail outlets. After several customer complaints, the product was tested and the foreign substance was determined to be glass. In addition to recalling the product, the company was forced to stop production and investigate the source. The cause of contamination was determined to be within the packaging line.
Projected Expenses: Costs related to the investigation, decontamination and testing. Recall costs of both the manufacturer and retail customers. Loss of profits as a result of production shutdown during the investigation of the source of the contamination and third party loss of profit of customers. Rehabilitation expenses to restore the brand.