Home

Instant Insights / Product liability & recall insurance for businesses

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

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Earlier in January, the South Korean brands announced they would recall about 168,000 vehicles to fix a fuel pipe problem that can cause fires, The Associated Press (AP) reported. In January, the South Korean brands announced they would recall about 168,000 vehicles to fix a fuel pipe problem that can cause fires, The Associated Press reported. (Photo: Daniel Acker/Bloomberg)

Owners of select models of Hyundai and Kia file fire insurance claims at a rate far higher than the average for comparable vehicles, the Highway Loss Data Institute (HLDI) reports.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at djacob@alm.com.

More from this author

America's Claims Executive (ACE) 2020Event

ACE Leadership Forum & Expo is the annual conference for Senior Claims Executives in Insurance organizations.

Get More Information
 

America's Claims Executive (ACE) 2020Event

ACE Leadership Forum & Expo is the annual conference for Senior Claims Executives in Insurance organizations.

Get More Information
 

America's Claims Executive (ACE) 2020Event

ACE Leadership Forum & Expo is the annual conference for Senior Claims Executives in Insurance organizations.

Get More Information
 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.