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

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Fiat Chrysler pickup The Fiat Chrysler Automobiles NV 2019 Ram 1500 Limited pickup truck. (Photo: Daniel Acker/Bloomberg)

Fiat Chrysler Automobiles NV will pay an estimated $800 million in fines and costs related to recalling and fixing thousands of vehicles under civil settlements announced Thursday by California and the U.S. Justice Department, which alleged some of its diesel-powered vehicles violated clean-air rules.

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