Claims rise shows growing product recall risks

by | December 13, 2017 12:11 am

Defective product risk is an increasing peril for companies, causing significant financial damage, says Allianz Global Corporate & Specialty (AGCS) report. Tougher regulation, global supply chains, materials from fewer suppliers and consumer awareness are contributing to a rise in recalls. AGCS claims analysis show that average cost of significant recall is $12 million. “Ripple effect”…

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