Over the last few years, a number of factors, including the introduction of a new UK regulator, the Office for Product Safety and Standards, and an increased international focus on enforcing product safety regulatory regimes, have led to an increase in the frequency of product recalls. This, and the fact that recalls are becoming more complex and expensive, has strengthened demand for product recall insurance. For those who want to understand more about this, here are some helpful Cooley related resourced.
Two of our insurance experts, Richard Hopley and Sam Tacey, have blogged about key points to look out for when checking over policies in relation to coverage. You can find that blog here.
For those of you with access to Lexis PSL and a thirst for more knowledge, Richard and Sam also co-authored a Practice Note on Product Liability and Product Recall Insurance, which you can find here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
