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

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Honda logo The NHTSA said drivers should check their recall status at  www.nhtsa.dot.gov/recalls, noting that not all Honda and Acura vehicles that have received replacement air bags under recalls are affected by the latest recall. (Photo: Tomohiro Ohsumi/Bloomberg)

Honda Motor Co. will recall more than a million vehicles in the U.S. to replace a batch of faulty air bag parts that were installed as part of the largest auto safety recall in history.

Instant InsightsProduct liability & recall insurance for businesses

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