Product Liability & Recall Insurance for Businesses
Product recalls are costing companies and insurers billions, and the numbers are expected to increase.
February 27, 2017
Takata's guilty plea accepted for deadly air bag fraudTakata pleaded guilty to one count of wire fraud for misleading automakers about the safety of its exploding air bags, which have been linked to at least 17 deaths worldwide.
February 03, 2017
Defective airbags found in repaired BMWs, prompting fresh recallBMW is recalling about 230,000 vehicles in the U.S. after discovering that some may have been fitted with defective Takata airbag inflators during repairs.
January 13, 2017
Takata to pay $1 billion, plead guilty in U.S. air bag probeThe company will admit to wire fraud for misleading regulators, consumers and car manufacturers about the safety of its air bags.
January 13, 2017
Three Takata executives indicted in U.S. over faulty airbagsThe executives reportedly knew that the inflators had experienced ruptures and other failures during testing from about 2000.
June 30, 2016
NHTSA says 313,000 Honda vehicles have high-risk Takata air bagsOwners of about 313,000 Honda and Acura vehicles from the 2001 to 2003 model years should have defective Takata air bags replaced immediately.
June 29, 2016
Toyota recalls 3.4 million cars over air bags, fuel tanksToyota is recalling about 3.4 million vehicles to repair separate flaws involving leaky fuel tanks and curtain air-bag inflators that may crack and injure occupants.