Insurance For Product Recalls: Manufacturers Beware
November 21, 2008, 12:00 AM EST
Law360 (November 21, 2008, 12:00 AM EST) -- Every year, thousands of consumer products are withdrawn from the market because of alleged design or manufacturing defects. Many of these recalls are publicized by the national news media, such as Ford Motor Company’s nationwide recall of Firestone-brand tires and Menu Food’s recent recall of tainted pet food imported from China.
Not all recalls, however, make the front page of the newspaper. In October alone, the Consumer Product Safety Commission (CPSC) announced 37 separate recalls, with products ranging from chain saws to treadmills to mattresses. The...