BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Product recalls cost companies $12 million on average: Allianz

Product recalls cost companies $12 million on average: Allianz

Germany-based insurer Allianz Global Corporate and Specialty S.E. found that "significant" product recalls cost companies across the world $12 million on average between 2012 and the first half of 2017, with the "ripple effect" costing billions, reported.  A "significant" event refers to product recall claims equal to or greater than €5 million ($5.8 million). The food and beverage sector accounted for 16% of analyzed losses, with the average cost of a recall claim totaling nearly $9.5 million. The major reasons for recalls include undeclared pathogens and allergens including mislabeling, contamination from glass, plastic and metal and malicious tampering.

Read more.