The price of recall insurance limits in the food and beverage...
A new report, Managing liability in the food and beverage sector, says that a survey of 232 companies across Europe showed that organisations have responded to this drop by increasing the amount of limits purchased (20% more than in 2004). While the market is currently soft, the report says that when it inevitably hardens, many companies will not reduce their amount of limits purchased.
Greater scrutiny from the media and regulators and enforcement of recent legislation will result in more product recalls, meaning a greater reliance on insurance, says the report. It also notes inconsistency in EU governments' product recall and withdrawal strategies.
