After mechanical vape mods were introduced to the market a new problem emerged. It was something that no one expected, except, those with advanced knowledge of batteries. Most notably, the 18650 batteries started venting in people’s pockets. The would vent due to an electrical short from improper storage. Loose change and keys or other metal objects cause a short resulting venting and/or exploding – most commonly in pockets or bags. Battery manufacturers are located in China and subrogation almost impossible. In response to hundreds of claim, certain underwriters at Lloyd’s of London decided to exclude LG, Efest, and MXJO batteries.
Vape Insurance Company for LG Batteries
Insuring batteries is very risky business for insurers. They have consistently paid millions of dollars to settle vape explosion lawsuits. Recently, one of the insurers we write vape insurance company decided not exclude the LG brand. If you currently have a Claims Made & Reported policy we can retro-activley provide coverage for LG batteries; even if they were excluded under your Lloyd’s of London policy for several years. For those who feel like the LG batteries are a concern for them we recommend this option. Be aware, with the new program the coverage for Health Hazard claims will not be included as it is with Lloyd’s of London. To that end, we recommend that you take time to decide what’s more important to you. CALCO is still writing vape coverage with Lloyd’s of London for those who are seeking their insurance policy. The Lloyd’s of London policies are in that they do not exclude Health Hazard claims.
Safety Standards = Safer Vaping
One of the main reasons that insurance companies won’t insure those LG batteries is that there have been insurance claims and insurers have not been able to successfully subrogate against them. Batteries themselves are not particularly dangerous. Rather, it’s due to casual errors and lack of warnings on the battery. People make mistakes and cause these battery-related incidents. That’s unfortunate, but it happens. We believe that it would happen less with better vape battery warnings and education.
It would be one thing if the FDA looked at these products and said: “hey, this isn’t safe.” However, that’s not what’s happening. Instead, they just haven’t adjusted PMTA standards to allow these products to be more easily available. We’re glad that the FDA agreed to standard 8139. We just think that should be the next step, not the final one.
Hopes for the Future
In our internet-driven age, it should be easier than ever to get all of the information that a person needs. Unfortunately, that’s not always the case. There are safe LG battery handling habits. There are ways to use your LG batteries the right way and have a great vaping experience. We’ve been urging retailers of all kinds for quite some time to use standardized training to help consumers with the right way to use these batteries. When people know what to do, they tend to do it right. By getting the information to consumers, they can enjoy vaping more while staying safe.
As vaping becomes more popular, the technology involved in it will innovate. What seems cutting edge today will pass in a short period of time. These technological advancements will make the experience more pleasurable and safer. Here at Calco, we’ll continue to advocate for vaping while helping vape businesses. To see how we can help yours, call us at (877) 225-2699.