Interest in Product Recall and Liability insurance is rising among companies in the U.S., especially as supply chains grow ever more global, thereby exponentially increasing exposures to manufacturing and distribution problems.
Also driving buying decisions: businesses endeavoring to comply with a rash of recent federal regulations; and a desire to protect their brands from the sort of reputational damage from which there can be no return.
"We are seeing an increase in the number of policies that we're writing and placing both on the food and non-food sides," says Bernie Steves, managing director in crisis management for Aon Risk Solution's Chicago office.
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