Mitigating Supply Chain Risk

June 2017

Aircraft Builders Council released a white paper that looks at the potential product liability exposures faced by companies in the aerospace sector. The 4-page paper highlights the importance of product liability insurance in the aviation industry and introduces a new aircraft products liability insurance facility.

This story is an excerpt of the original. The content originally appeared in Advisen Media White Papers.

Cyber Risk Carries Over Into Other Liability Lines: Allianz Report

Within the broader insurance world of liability losses, cyber risk stands to become a significant worry in other lines of business including product liability and recall risk, according to a new global claims review from Allianz Global & Corporate Specialty (AGCS).

“Cyber claims are becoming more relevant. This is a huge area of growth for insurers,” said Peter Oenning, global head of claims liability for AGCS.

Erin Ayers, Cyber risk carries over into other liability lines: Allianz report (April 10, 2017), available with subscription at Advisen Cyber Front Page News.

Number of Product Recalls Has More Than Doubled Over 10-Year Period

Advisen, the leading provider of data, media, and technology solutions for the commercial property and casualty insurance market, today announced the release of a paper that discusses the economic impacts of product recalls and the importance of having recall insurance.

The paper highlights:

• the increasing trend of product recalls from 2005 – 2014

• probability of experiencing a recall of a certain size

• industry composition by type of recall for consumer products, foods/beverages/drugs, and agricultural/environmental

• actual case studies of product recalls

The number of product recalls among food and non-food manufacturers has increased significantly.

Read more at http://bit.ly/2agSb4K

Advisen Ltd. (2016). Number of product recalls has more than doubled over 10-year period [White paper]. Retrieved from http://www.advisenltd.com/2016/07/20/product-recalls-doubled-in-10-years/