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/

Product Recalls Impact on Business Financial Health

June 2016

In the past decade, the number of product recalls among food and non-food manufacturers has increased significantly. Advisen wrote a white paper that discusses the economic impacts of product recalls and the importance of having recall insurance. Sponsored by Allied World, the free, 5-page paper presents a number of case studies illustrating how product recalls can affect the financial health of businesses.

Minimizing the Impact of a Product Recall

Between 2010 and 2011, an applesauce manufacturer lost $21 million in direct costs associated with a product recall and the subsequent interruption of its business.

Read more and download the white paper at http://www.advisenltd.com/2016/05/26/product-recalls-impact-on-business-financial-health/