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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batteries Batteries are the energy source for dozens of household and industrial items — the risks arise when they are poorly manufactured and don’t perform as expected. (Photo: Shutterstock)

In the late afternoon on November 9, 2017, a loud explosion occurred at the Orlando airport. Someone shouted, “Shooter!” and the crowd scattered like birds in hunting season. The event that occurred outside of the security area followed the tragic Las Vegas and Texas shootings.

The pandemonium, while not surprising, caused long delays, many extra hours of work, thousands of unhappy passengers and millions of dollars of unplanned expense. The loud report? A lithium-based battery in a camera exploding in a passenger’s bag. This incident was particularly disruptive, but the FAA reports one lithium ion incident every 10 days involving everything from electronic cigarettes to cargo.

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