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

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Ford to recall 1.6 million F-150 pickups for seat belt fire risk

Faulty seat-belt pretensioners can spark excessively in a crash and ignite other materials or gases in the vehicle.

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Ford F-150 pickups 2017 Ford Motor Co. F-150 pickup trucks sit on display at the Sutton Ford Lincoln car dealership in Matteson, Illinois, U.S., on Monday, April 3, 2017. (Photo: Daniel Acker/Bloomberg)

(Bloomberg) – Ford Motor Co. will recall about 2 million F-150 pickups in North America to fix faulty seat-belt components that have sparked fires following crashes, after U.S. auto safety regulators began an investigation into the issue last month.

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