Instant Insights / Product Liability & Recall Insurance for Businesses

Product recalls are costing companies and insurers billions, and the numbers are expected to increase.


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Roughly a third of product recalls are from companies with five or fewer employees. (Photo: iStock)Roughly a third of product recalls are from companies with five or fewer employees. (Photo: iStock)

Visit the website of the United States Consumer Product Safety Commission and you’ll find a recall list that includes nightlights, plastic toys, fleece sweaters and furniture. Even products as innocuous as pillows and chocolate have been included on the recall list.

No manufacturer, large or small, is immune from product recalls and the business disruption and considerable expense that may result. History’s most famous product recall cases feature well-known brands such as Tylenol, Vioxx, Toyota, Boeing, Dell and Mattel, and involved hundreds of millions of dollars in associated costs.

Related: 5 reasons to purchase product recall insurance

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