Product Recall

Cannabis: A Growing Risk

Between the national legalization of recreational marijuana use in Canada effective October 17 and the ongoing state ballot proposals related to public consumption in the U.S., cannabis remains one of the most debated topics for consumers and business owners today. Many Canadian businesses have already begun to make edible cannabis products even before those types…

Outbreaks from Eggs, Romaine Lettuce Show Need for Product Recall Coverage

Major recalls of romaine lettuce and more than 200 million eggs this past week are impacting millions of U.S. consumers. As new information is made available on the causes of these food contaminations, the financial consequence to the suppliers and distributors involved is expected to be significant depending on the type of Product Recall Insurance…

Why Every Restaurant Needs Product Recall Insurance

Every year, contaminated food causes 48 million people to become sick, putting more than 128,000 individuals in the hospital1. With more than 1 million restaurants in the United States, foodborne illness can have huge implications for people, communities, and businesses2. While a large restaurant chain like Chipotle may have their bases covered to navigate a…

Ask the Expert: Products Liability Coverage

Insurance Market Source regularly taps into its network of experts for insight into key trends across the insurance landscape. Tyson Peel, National Property & Casualty Manager, Burns & Wilcox Canada, shares his insight on Products Liability Coverage.  Q: Why is the location of where a product is made important to Products Liability Coverage? Tyson Peel (TP): Brokers…

Product Recall Insurance Checklist for Brokers

Product recalls are rising. Annual food recalls have doubled since 2002 and vehicle recalls computed to more than three times the number of cars sold1. Outside of what is seen in the mainstream media, there are countless more product recall incidents occurring, especially in small and mid-size businesses. Any recall can be a costly undertaking—making Product…

Every Risk Has Its Price: Product Liability and Recall Coverage

For product liability and recall exposures, that price is over $500 billion in deaths, injuries, property damage, and costs related to recalls every year. Many companies drastically underestimate the exposures they face; leaving their business in jeopardy of bankruptcy should they have an issue. The price of doing business today includes having proper product liability…