Recall insurance a growing consideration for manufacturers

A car fitted with Takata airbags, subject to a huge product recall. Image courtesy of Takata Corp.

Following a string of massive product recalls across several sectors, interest in so-called ‘recall insurance’ is growing.

Last month Japanese air bag manufacturer, Takata. announced that it was doubling the size of a recall triggered by defects found in their products in a range of cars. The recall, which was the biggest in North American history, has been estimated to cost the company around $4-5bn. In 2002 Honda…

Recall insurance a growing consideration for manufacturers

This content is for subscribers only. Subscribe now for free to read the full article.