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1 A Strategic Approach to Managing Product Recalls
https://hbr.org/1996/09/a-strategic-approach-to-managing-product-recalls
During a recall, the response team should keep customers properly informed and persuade them to complete the necessary exchanges. After a recall, communications ...
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2 Product Recalls Impact on Business Financial Health - Advisen
https://www.advisenltd.com/wp-content/uploads/2016/05/product-recall-impact-on-business-awac-2016-05-26.pdf
Direct product recall costs include items such as notification, product retrieval and storage, product destruction, unsaleable product, and additional labor ...
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3 Is your manufacturing business recall-ready?
https://www.hanover.com/resources/tips-individuals-and-businesses/prepare-now-learn-how/your-manufacturing-business-recall
Learn what insurance coverage options your manufacturing business needs to stay protected against the financial damage of a product recall.
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4 How to Conduct a Recall | CPSC.gov
https://www.cpsc.gov/Business--Manufacturing/Recall-Guidance/How-to-Conduct-a-Recall
If you are a manufacturer, importer, distributor, or retailer of consumer products, you may need to conduct a product recall in the future.
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5 Product Recall: How Will You Handle It When It Happens?
https://woodruffsawyer.com/property-casualty/handling-product-recalls/
For the food and beverage industry specifically, Woodruff Sawyer offers specialized training sessions for finance teams, whether current client ...
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6 Protect Yourself from Recalled Products | USAGov
https://www.usa.gov/recalls
Some recalls ban the sale of an item and instruct you to throw away the product. Other recalls ask you to return the item for replacement or repair.
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7 Who pays for a product recall? - Coughlin Insurance Services
https://coughlinis.com/who-pays-for-a-product-recall/
Product recalls are financial and PR nightmares for businesses. Potentially costing billions of dollars, product recalls can be one of the ...
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8 The effects of industry, recall strategy and hazard, on ...
https://epublications.marquette.edu/cgi/viewcontent.cgi?article=1332&context=mgmt_fac
Keywords: product recall, cross-industry sector, shareholder wealth, event study, product hazard, recall strategy ... Financial Impact of Product Recalls.
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9 Surviving a Recall: How to Navigate the Financial Risks and ...
https://www.foodmanufacturing.com/home/article/13245858/surviving-a-recall-how-to-navigate-the-financial-risks-and-exposures-of-a-product-recall
Beyond direct expenses, other less obvious costs can loom even larger. Business interruption and lost profits are often the greatest cost of a product recall.
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10 The financial impact of product recall ... - IUPUI ScholarWorks
https://scholarworks.iupui.edu/handle/1805/17243
A product recall can be viewed as a firm's worst nightmare. Although the long-term damage to brand equity and company reputation may be difficult, ...
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11 Product recall: A high risk particularly for smaller businesses
https://global.lockton.com/gb/en/news-insights/product-recall-a-high-risk-particularly-for-smaller-businesses
Bigger corporations need to act quickly to maintain customer loyalty and shareholder confidence after a product recall, but many small companies ...
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12 Beyond Logistics: Product Recall Risks and How to Avoid Them
https://theonebrief.com/beyond-logistics-product-recall-risks-and-how-to-avoid-them/
For businesses, the most immediate and upfront impact of a product recall is the upfront financial cost. ... While the financial cost of a recall ...
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13 Insurance Marketplace Realities 2020 – Product Recall - WTW
https://www.wtwco.com/en-US/Insights/2019/11/insurance-marketplace-realities-2019-fall-update-product-recall
While increasingly complex supply chains, tougher regulations and more sophisticated detection methods intensify product recall risk — the average cost of a ...
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14 Product recalls pose a huge threat to profitability: 9 tips
https://www.yamatoscale.co.uk/tips-to-avoid-product-recalls/
This is all about how much product recalls affect a company's brand image. Be in no doubt that the impact on brand image and the producer's reputation can be ...
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15 The Effect of Product Recall Announcements on Shareholder ...
https://www.jstor.org/stable/2486624
EFFECT OF PRODUCT RECALL ANNOUNCEMENTS. ON SHAREHOLDER WEALTH. WALLACE N. DAVIDSON III. Department of Finance, Southern Illinois University, Carbondale, ...
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16 The financial impact of product recall announcements in China
https://www.sciencedirect.com/science/article/pii/S0925527312004598
Product recalls cannot only ruin carefully cultivated brand equity and tarnish a company's reputation, but they can also result in major revenue and market- ...
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17 Product liability, recall and contamination insurance | III
https://www.iii.org/article/product-liability-recall-and-contamination-insurance
Covering the costs of a product recall · Advertising and promotional costs to launch the recall. · Shipping costs to collect recalled products. · Product ...
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18 An Extension of Security Price Reactions Around ... - CiteSeerX
https://citeseerx.ist.psu.edu/document?repid=rep1&type=pdf&doi=12f34d7d247cd5a19cd5d483a1e71d2b1639aceb
We examine 269 non-automotive product recall announcements that were pub- ... Stock Markets,” Journal of Business Finance and Accounting, 21 (1994), pp.
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19 (PDF) Does a Firm's Product-Recall Strategy Affect Its ...
https://www.researchgate.net/publication/228974168_Does_a_Firm's_Product-Recall_Strategy_Affect_Its_Financial_Value_An_Examination_of_Strategic_Alternatives_During_Product-Harm_Crises
Product-harm crises often result in product recalls, which can have a significant impact on a firm's reputation, sales, and financial value.
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20 Does a Firm's Product-Recall Strategy Affect Its Financial ...
https://journals.sagepub.com/doi/10.1509/jmkg.73.6.214
In contrast, firms may adopt a passive strategy in managing product recalls. The passive approach may entail delaying the recall process and/or trying to shift ...
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21 Product recall - Preventing a crisis - AGCS
https://www.agcs.allianz.com/news-and-insights/expert-risk-articles/product-recall-preventing-a-crisis.html
1. Preparation · 2. Discovery · 3. Action · 4. Communication · 5. Recovery · The role of insurance - Financial and reputational recall protection · The costs of a ...
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22 Product Recall Insurance | Insureon
https://www.insureon.com/small-business-insurance/product-liability/product-recall
What is product recall insurance? · Voluntary recalls in which a company decides to recall its product without any legal mandate. · Involuntary ...
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23 Westchester Product Recall
https://www.westchester.com/en/products/brokerage/product-recall/home.html
Today, more than ever, recalls affect nearly every industry, consumer, and market segment. Business owners are faced not only with the financial impact that ...
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24 Does My Business Really Need Product Recall Insurance?
https://www.harrisbalcombe.com/resources/business-really-need-product-recall-insurance/
Product recall insurance policies are designed to reimburse businesses for a variety of financial losses suffered through product recalls.
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25 PRODUCT RECALL MANAGEMENT - Risk & Compliance
https://riskandcompliancemagazine.com/product-recall-management
However, a recall can also have a detrimental effect on a company and its long term profitability, posing huge reputational and financial risk.
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26 Don't Panic: How to Handle a Product Recall Like a Pro
https://www.beekeeper.io/blog/product-recall/
3 Ways to Reduce the Impacts of Product Recalls. The impacts of a product recall can be severe. A company's reputation, financial viability, and ...
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27 Chubb Product Recall Insurance Brochure
https://www.chubb.com/content/dam/chubb-sites/chubb-com/us-en/business-insurance/product-recall/Product_Recall_Insurance_Brochure_07-21_ADA.pdf
Today, more than ever, recalls affect nearly every industry, consumer, and market segment. Business owners are faced not only with the financial impact that a ...
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28 Product Recall Insurance
https://www.proinsgrp.com/business/product-recall-insurance/
This has become a major issue for smaller companies, who are unable to recoup from the financial losses associated with the recall. Who Should Acquire A Policy?
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29 Product Recall Insurance - CFC Underwriting
https://www.cfcunderwriting.com/en-us/products/class/product-recall/
Product recall insurance helps safeguard a business from the financial impact of a recall, specifically the first and third-party costs associated with ...
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30 PRODUCT RECALL - ZEP-RE
https://www.zep-re.com/index.php/opportunities/publications?id=107
A product recall is a request to return a product after discovery of safety issues or product defects that may endanger the consumer or put the maker/seller ...
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31 Product Recall - Marsh
https://www.marsh.com/us/services/claims-management/products/product-recall.html
When a product fails, mitigating the financial and reputational impact of resulting recalls or liability claims and obtaining assistance from your insurers ...
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32 Product Recall - DUAL North America
https://www.dualna.com/product-recall
A critical step to avoiding these potentially large direct and indirect financial losses is a dependable product recall strategy including insurance ...
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33 The financial impact of a product recall - Canadian Underwriter
https://www.canadianunderwriter.ca/features/cc-financial-impact-product-recall/
Product recall insurance is intended to cover financial losses as a result of a product recall, such as the cost to remove the product from the supply chain, ...
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34 Part 1- Accounting's Role During a Product Recall
https://trievrrecallmanagement.com/part-1-12-essential-roles-during-a-product-recall-accounting/
Few organizations realize the financial consequences of bad product recall management until it's too late. Research shows that food recalls, for ...
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35 Are You Ready for Total Recall? | Expert Commentary
https://www.irmi.com/articles/expert-commentary/are-you-ready-for-total-recall
Recognizing the legal, insurance, regulatory, financial, and operational challenges of a product recall is the first step in treating this exposure as a real ...
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36 Vehicle & Product Recalls - Selective Insurance
https://www.selective.com/info-center/value-added-services/recall
Whether due to complex and diverse supply chains, tougher regulation, increased enforcement or simply a need for increased awareness, product recall ...
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37 Need for Product Recall Insurance Increases as FDA Budget ...
https://www.amwins.com/resources-insights/article/need-for-product-recall-insurance-increases-as-fda-budget-expands
Insurance policies for product recall and product contamination are both first- and third-party contracts. From a first-party perspective, the ...
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38 Is Product Recall Insurance Right For Your Business?
https://www.marshcommercial.co.uk/articles/protect-your-business-from-the-impact-of-a-product-recall
For any manufacturing business, dealing with a product recall notice can be a financial and reputational disaster - it's a traumatic experience that can ...
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39 SECURITY PRICE REACTIONS AROUND PRODUCT ...
https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1475-6803.1986.tb00441.x
This study presents an empirical, event-time analysis of the financial impact of product recall announcements on the equity holders of affected firms.
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40 Product Recall - Liberty Mutual Canada
https://www.libertymutualcanada.com/products-solutions/crisis-management/product-recall/
Regardless of what you manufacture, product recall insurance can mitigate reputational risks in the hours, weeks, and months following a recall.
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41 Product Recall/Contaminated Product Insurance Sales Playbook
https://www.aig.co.uk/content/dam/aig/emea/united-kingdom/documents/Product-Recall/product-recall-playbook.pdf
AIG has developed an analytic tool,. NOVI, that can help companies understand the magnitude of the financial risk posed by product contamination. LEARN MORE >.
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42 An analysis of the impact of product recall on stock prices ...
https://asu.pure.elsevier.com/en/publications/an-analysis-of-the-impact-of-product-recall-on-stock-prices-based
Findings: Though we find that recall does not have a statistically significant effect on company share prices, we identified that recalls of companies with high ...
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43 Product Recalls - CNBC
https://www.cnbc.com/product-recalls/
Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Market Data ...
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44 Insurance Coverage for Product Recalls, Property Damage ...
https://www.andersonkill.com/webpdfext/fine_print_feb.pdf
Product recall insurance policies may protect against losses suffered by policyholders where their product or component parts of a product have the potential to.
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45 Product Recalls and Alerts - GOV.UK
https://www.gov.uk/guidance/product-recalls-and-alerts
Information on OPSS product safety alerts, reports and recalls for unsafe products and resources for consumers, businesses and regulators.
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46 PRODUCT GUARANTEE, FINANCIAL LOSS AND PRODUCT ...
https://limestreetbrokers.com/storage/app/uploads/public/5eb/3e2/f6b/5eb3e2f6bb600506969964.pdf
cause bodily injury and/or property damage. What triggers Cover? Cover is available for the Products. Guarantee, Financial Loss and Products. Recall insurance ...
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47 An analysis of the impact of product recall on stock ... - EconStor
https://www.econstor.eu/bitstream/10419/253312/1/432.pdf
Finance Review (GBFR), ISSN 2384-1648, People & Global Business ... Keywords: Google trend, Product recall, Event study, Automobile, Non-Automobile.
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48 An Extension of Security Price Reactions Around Product ...
http://mx.nthu.edu.tw/~chclin/Published/An%20Extension%20of%20Security%20Price%20Reactions%20around%20Product%20Recall%20Announcements.pdf
We examine 269 non-automotive product recall announcements that were pub- ... Stock Markets,” Journal of Business Finance and Accounting, 21 (1994), pp.
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49 Law on Product Recalls | Justia
https://www.justia.com/products-liability/product-recalls/
Manufacturers owe consumers an obligation to be on the lookout for potential defects in a product line. Many defects only become evident ...
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50 What is a Product Recall? Quality Recall Process - ASQ
https://asq.org/quality-resources/recalls
A product recall is defined as a request to return, exchange, or replace a product after a manufacturer or consumer watch group discovers defects that could ...
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51 Managing the Product Recall Process
https://rbr.business.rutgers.edu/sites/default/files/documents/rbr-060109.pdf
the participating food, beverage, and consumer products firms stated that the financial risk of a recall was “significant” to “catastrophic.” For companies.
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52 Product Recall - McLarens
https://www.mclarens.com/expertise/consumer-goods/product-recall/
McLarens adjusters include a number of former product recall underwriting and ... Product Recall coverages are purchased to mitigate the financial impact of ...
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53 How to Effectively Manage a Product Recall
https://www.deteringconsulting.com/blog/how-to-effectively-manage-a-product-recall
Financial impact: A recall can negatively affect the stock price of publicly traded companies. Negative publicity: Product recalls can create a negative image ...
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54 Product recall claim costs: Is there a true standard? - Sedgwick
https://www.sedgwick.com/blog/2022/08/15/product-recall-claim-costs-is-there-a-true-standard
Most product recall claims are submitted with the product valued at 'standard cost'. This encompasses the business' cost of the product, ...
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55 Product Recall Consumer Goods - Crum & Forster
https://www.cfins.com/property-casualty/crisis-management/product-recall-insurance-for-consumer-goods/
Product Recall Insurance for Consumer Goods provides financial protection in the event of a recall. The policy is designed to cover recalls involving finished “ ...
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56 Effects of Voluntary Product Recall on Consumer's Trust
https://www.scielo.br/j/bbr/a/XQ95cypK4dJrPtZYhDZqvjt/?format=html
Product failures often lead to recall, which generates an impact on the organization's reputation, sales and financial value (CHEN; GANESAN; LIU, 2009 ...
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57 Product Liability & Product Recall - MDD Forensic Accountants
https://www.mdd.com/forensic-accounting-services/product-liability-product-recall/
When a product liability or product recall situation occurs, businesses frequently find themselves suffering a financial loss or being held responsible for ...
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58 Product Recall Insurance: Coverage & Quotes | AdvisorSmith
https://advisorsmith.com/business-insurance/product-recall-insurance/
Product Recall Insurance protects your business from the first-party financial costs of performing a voluntary or involuntary product recall.
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59 Product Recall | Casualty Insurance Services - Risk Strategies
https://www.risk-strategies.com/business-insurance/casualty/product-recall?hsLang=en
While product recall insurance coverage gives our clients protection against financial loss from a government-mandated recall due to a specific run of ...
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60 Recall 360 | Crawford & Company
https://www.crawco.com/innovations/recall-360
Product recalls are never planned, but when they occur, they require immediate response to protect your customers, your margins, and your brand.
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61 Product Recall Insurance For Manufacturers (Defective ...
https://ekinsurance.com/product-liability/product-recall-insurance-for-manufacturers.html
Learn about product recall insurance for manufacturers. A product recall is the act of removing a defective batch or production run of products from the ...
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62 Product Recall - Financial Dictionary
https://financial-dictionary.thefreedictionary.com/Product+Recall
A request by a company for customers to return their products, often for a replacement or some other compensation. A product recall may be voluntary or mandated ...
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63 Global awareness campaign on product recalls - OECD
https://www.oecd.org/sti/consumer/product-recalls/
In the year 2018 alone, over 3700 product recall notifications were submitted by 39 jurisdictions on the OECD Global Recalls portal. Yet consumers' reactions to ...
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64 Mitigating Reputational Damage During a Product Recall
https://www.gerent.com/posts/mitigating-reputational-damage-during-a-product-recall
A product recall is the process of retrieving and replacing defective goods consumers have purchased. A business or manufacturer absorbs the cost of ...
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65 Product Recall and Contaminated Products | Berkley Insurance
https://www.berkley.com/business-insurance/products-recall-and-contaminated-products
Product Recall insurance can help a company recover from financial loss due to the recall of a defective or unsafe product from consumers or distributors, ...
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66 a robust Market Withdrawal System can reduce Your product ...
https://www.foodprotection.org/files/food-protection-trends/may-jun-17-weaver.pdf
analyzed publically available food recall information in the ... evidence from financial markets to infer the effects of recalls on company profitability.
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67 Product Recall - TYGATE
https://www.tygate.com/product-recall/
Whilst we can hope against, a product recall is something that we cannot afford to overlook due to the strain it puts on your company's operations and finance.
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68 Wholesaler-Distributors and Retailers May Be Liable for ...
http://www.kkrlaw.com/changes/wholesale.htm
Product recalls ordered by the Consumer Product Safety Commission can be a substantial financial liability. Recalls can affect any sellers of the product, ...
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69 Product Recall: A Guide for Prevention - SafetyCulture
https://safetyculture.com/topics/product-recall/
A product recall is a request for consumers to return hazardous products to the manufacturer. According to the Consumer Product Safety Commission (CPSC), a ...
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70 Auto Defect Detection Using Customer Reviews for Product ...
https://www.frontiersin.org/articles/10.3389/fams.2021.632847/full
Product recall insurance is intended to provide manufacturers with financial protection for the cost of the recall and their liabilities but ...
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71 Product Recall Planning - CNA Insurance
https://www.cna.com/web/wcm/connect/35e1da01-2950-49a4-a3ea-976582f0de1f/CNA-RC-Product-Recall-Guide.pdf?MOD=AJPERES
However, a product withdrawal or recall from the supply ... Certain CNA Financial Corporation subsidiaries use the “CNA” trademark in connection with ...
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72 Is your manufacturing business recall-ready?
https://mcsweeneyricci.com/is-your-manufacturing-business-recall-ready/
A recall means expenses for a company including the cost to remove defective or dangerous products from the market, and dispose of them safely. Companies often ...
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73 Product failure and recall - PwC UK
https://www.pwc.co.uk/issues/crisis-and-resilience/product-recall.html
In recent years it has become increasingly common to hear news of a product failure that has led to a product recall or remediation programme.
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74 PRODUCT RECALL INSURANCE
https://cmiprorisk.com/wp-content/uploads/2017/02/Westchester_RecallWhyBuy.pdf
product recall insurance.1. Product recall insurance is a unique policy that reimburses insureds for financial losses they confront because of.
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75 Product Recall Definition - Shmoop
https://www.shmoop.com/finance-glossary/product-recall.html
Shmoop's Finance Glossary defines Product Recall in relatable, ... So the car is recalled to a local dealer to then make 18 adjustments in 90 minutes and ...
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76 Product Recalls - Walmart Inc.
https://corporate.walmart.com/recalls
The recall information provided is based on manufacturers' and regulatory agencies' press releases that involve product sold through Walmart stores, ...
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77 What Are Product Recalls? - LegalMatch
https://www.legalmatch.com/law-library/article/what-are-product-recalls.html
Products are recalled when the manufacturer believes that the product poses a health or safety risk to consumers. By recalling the product, the ...
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78 Product Recall Procedure | PM1030 - Bizmanualz
https://www.bizmanualz.com/business-procedures/sales-marketing-procedures/product-recall-procedure
Segregate – Spatially isolated recalled product from other products (until such time as the recalled product may be safely disposed). Top ...
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79 Product Recall Insurance | Gallagher UK
https://www.ajg.com/uk/corporate-insurance/product-recall-insurance/
Product recall insurance protects businesses from the first-party and third-party losses associated with products which have been contaminated or recalled. It ...
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80 Consumer Product Recall - Axon Underwriting
https://axonu.com/project/consumer-product-recall/
With a rising trend in product recalls in the United States, Axon's Consumer Product Recall Insurance protects the Insured from financial losses which can ...
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81 Executing a Recall Successfully Protects Brand and Bottom Line
https://www.leadersedge.com/industry/executing-a-recall-successfully-protects-brand-and-bottom-line
One of many ways to mitigate and transfer the financial risk of a recall is through insurance. But given the complex nature of product ...
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82 Chapter 7 Recall Procedures - FDA
https://www.fda.gov/media/79122/download
ڤ. I have checked my stock and have quarantined inventory consisting of _____ <units or cases>. ڤ. Indicate disposition of recalled product: ڤ returned (specify ...
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83 Product Recall (non-admitted) - Great American Risk Solutions
https://www.greatamericaninsurancegroup.com/for-businesses/product-details/great-american-risks-solutions/product-recall-non-admitted
Barbara Randall Divisional Vice President - Product Recall ... Great American Insurance Group's member companies are subsidiaries of American Financial Group, Inc ...
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84 Food recalls - What are the true costs? | Marel
https://marel.com/en/news/food-recalls-true-cost
Pay for the losses directly from a dedicated recall (or crisis) fund · Carry insurance for food recalls · Communicate transparently, being careful ...
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85 Don't let a costly product recall damage your business and ...
https://lcisinc.com/dont-let-a-costly-product-recall-damage-your-business-and-your-brand/
According to the FDA, nearly 30 product recalls occur every week in the U.S. on average. Recalling, replacing or destroying a consumer ...
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86 Hiding in the Herd: The Product Recall Clustering Phenomenon
https://pubsonline.informs.org/doi/abs/10.1287/msom.2020.0937
Little is known, however, about how firms manage the timing of recalls and how this timing influences the financial consequences of recalls. In ...
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87 Will Recall of Products Affect Product Liability Claims?
https://www.lezdotechmed.com/blog/product-liability/recall-of-products/
Recall of products imposes massive financial losses to the manufacturers, affecting the brand reputation and loyalty of the consumers.
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88 KANT VS ARISTOTLE: EVALUATING CONSUMER ...
http://www.na-businesspress.com/JAF/ShindeJS_Web17_2_.pdf
Journal of Accounting and Finance Vol. 17(3) 2017 67. KANT VS ARISTOTLE: EVALUATING CONSUMER RESPONSES TO A. PRODUCT RECALL. Jaysinha S. Shinde.
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89 Analysis of Traceability Optimization and Shareholder's Profit ...
https://www.hindawi.com/journals/mpe/2015/896239/
Product recall gains considerable importance in recent times; the reason may be the huge losses faced by manufacturers because of product recall issues.
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90 The Product Recall Process: Mechanics and Shortcomings
https://lawecommons.luc.edu/cgi/viewcontent.cgi?referer=&httpsredir=1&article=1352&context=lclr
ment in the product recall process and the new program. Loyola Consumer Law Review ... confidential commercial or financial information and.
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91 Managing customer satisfaction after a product recall: the joint ...
https://link.springer.com/article/10.1007/s11747-021-00802-1
When firms respond to a product recall, they need to balance short-term (financial costs of the recall) and long-term non-financial ( ...
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92 Marketing Professors: Consumers Are Suspicious When ...
https://today.uconn.edu/2020/08/marketing-professors-consumers-suspicious-companies-exceed-expectations-product-recalls/
“Recalls are relatively commonplace, and companies want to respond appropriately to these crises when they occur,'' Hock says. “Product recalls ...
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93 MIDDLE MARKET PRODUCT RECALL EXPENSE COVERAGE
https://s0.hfdstatic.com/sites/the_hartford/files/ProductRecallFlyer.pdf
Failure to immediately remove a dangerous product from the marketplace can hurt your clients' business, financial standing and public image, and harm their ...
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94 Product recalls - CCPC
https://www.ccpc.ie/consumers/product-safety/product-recalls/
Product recalls ; Thursday, October 27, 2022, Husqvarna Motorcycles GMBH recalls HQV FC 250 & HQV FC 350 Motorcycles ; Thursday, October 20, 2022, Aldi Stores ( ...
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95 Automotive Product Recall Insurance - AXA XL
https://axaxl.com/insurance/products/automotive-product-recall-insurance
This could result in a devastating financial impact for the supplier if the right cover is not in place. Risk Consulting. Risk consultants providing ...
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