Automotive Industry

Industry: Email Alert RSS Feed

Supplier risks rise without recall insurance; Exposure of small suppliers rises as recalls increase.(News)

Automotive News Europe, May, 2004 by Aldred, Carolyn; Wernle, Bradford

Content provided
in partnership with

Byline: Carolyn Aldred, Bradford Wernle

More auto suppliers are facing massive exposure to product recall-related damage claims without insurance.

The number of auto recalls has risen significantly. There were 529 recalls in the US last year, up from 208 in 1990, government figures show. Many automakers now force suppliers to bear the risk of recalls related to product defects.

But insurers in Europe and the US increasing are refusing to cover auto suppliers against claims from product recalls.

Most Popular Articles in Autos: Service Slants; 2007 utility vehicle buyer's guide: Side-By-Sides are popular; here's who ...; Transmission considerations: beyond the manual gearbox; Buell Motorcycle engineering, innovation, & dedication: in an industry ...; 100 + 10: America's oldest automotive magazine celebrates its 110th year ...; More »

Lars Holmqvist, executive director of CLEPA, the European component ...

Read the rest of this article with a Free Trial at HighBeam Research.

Automotive Industry

Supplier risks rise without recall insurance; Exposure of small suppliers rises as recalls increase.(News)

Automotive News Europe, May, 2004 by Aldred, Carolyn; Wernle, Bradford

Find Research Guides for:

Find Featured Titles for: Business

Most Popular Articles in Autos

Most Popular Publications in Autos