PIP is a French company that makes breast implants, including silicone. Unfortunately, it appears as if they type of silicone filler material they used is suboptimal, and as a result, they are being recalled. This company states that they export to 66 countries, but the US is not one of them.
In the US, the only 2 companies allowed to sell breast implants for cosmetic use are Allergan and Mentor. Allergan is an independent company, and Mentor is a part of Johnson and Johnson. Both companies obtained re-approval for silicone gel breast implants in November of 2006. Both companies have an excellent track record, and have warranties for their respective products.
PIP implants were used mainly in Europe, since the company is based in France. It is unclear, since it varies by country and insurance company, exactly what is covered. In general, it seems that removal of the PIP breast implants and associated operative costs are included, but not replacement with different implants. The French equivalent of the FDA has released several position papers on PIP implants. The links are found below.
If you have had PIP silicone implants in the past, you may want to discuss what to do with your operative surgeon.