Product Recall Insurance is one of the more high-profile products in the Excess & Surplus arena due to increased awareness of this type of product following 2011's Food Safety Modernization Act, as well as enhanced media attention. News of a food contamination or a product failure will surge through social media within seconds of hitting an Internet news site.
With some 59 million different products recalled by the Consumer Product Safety Commission (CPSC) alone last year and product recall claims hitting seven figures—that's $1 million dollars in losses per claim—insurers are seeing a lot more attention directed to this burgeoning area.
Click "next" to see the Top 10 Product Recalls in 2012.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
