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

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Toyota recalls 1 million Prius, C-HR Hybrids on risk of fire

An engine wire harness connected to the power control unit is at risk of wear over time, potentially leading to a fire.

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Prius A new Prius hybrid automobile stands on the final quality check production line at the Toyota Motor Corp. The recall affects every one of the current-generation Prius, including a plug-in variant, and the hybrid version of the C-HR made until May of this year. (Photo: Noriko Hayashi/Bloomberg)

(Bloomberg) – Toyota Motor Corp. is recalling more than a million of its Prius and C-HR compact crossover vehicles globally due to the risk of fire.

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