The risk of a product recall has increased exponentially inrecent years. Global regulatory standards have increased in numberand new product safety rules are implemented constantly.

These developments are positive for consumers, but for companiesthey produce more stringent product quality obligations. Thischallenge is greater today than ever before, as supply chains aregeographically widespread and manufacturing protocols and standardsare not synchronized on a global basis.

Human error being what it is, mistakes inevitably will occur.While most large organizations purchase product recall insurance,many other businesses do not. Based on current developments, andthe benefit that this product provides to insureds, we believe thata decision not to purchase product recall coverage can havedevastating repercussions.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.