B1: Product liability, Product recall & Loss Control
Exploding car airbags, overheating mobile phones and salmonella in ice cream – all situations that have recently led to safety alerts and, in some cases, recalls. As regulatory requirements become more stringent and pressure to reduce costs more demanding, the likelihood of product recalls will only increase – with the potential for not just financial loss, but significant damage to a company’s brand and reputation.
This session will look at product recall trends, recall exposures, coverage triggers and crisis management. It will examine recent incidents and will discuss lessons to be learnt and reducing the impact of recalls as well as current hot topics, including: new regulation and enforcement strategies and risk management, including supply chain issues.
The costs of a recall can extend far into the future if the company concerned finds it hard to win back brand market share and customer trust. Whilst engaging, this interactive role-playing workshop will provide practical advice for handling a real-life product recall incident.
Presented by Allianz Global Corporate & Specialty