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.
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