Category: Product RecallsJuly 11, 2019
A company’s brand reputation can take years to build — and be damaged quickly in the wake of a product recall.
Out of the top 20 priority reputational risks that every company should monitor, the Reputation Institute identifies five risks that are directly related to product recalls.
Category: Product RecallsJune 12, 2019
The number of product recalls has increased exponentially over the past 10 years. Unfortunately, when a recall occurs it is often prohibitively expensive, affecting a business both financially and reputationally. Whether your client’s exposure is manufactured goods or food-related products, having the right insurance coverage for every recall situation is critical.
By: David Fiske – Senior Vice President, Worldwide Facilities
No matter how you look at the data, companies across all sectors are more at risk for product recalls than ever—and the cost is rising. In 2014 alone, the National Highway Traffic Safety Administration (NHTSA) issued $126 million in fines—the most in its history.