Business Services Industry
Demand for recall cover fizzles in U.K. market
Business Insurance, August, 1998 by MacDermott, Matthew
MATTHEW MacDERMOTT LONDON - Demand for product recall insurance in the United Kingdom is about as flat as an open can of soda pop. Despite several high-profile recalls of tainted food and beverages in 1997 (BI, Aug. 4, 1997), a scarcity of such events this year has kept U.K. interest in the insurance low.
The only major U.K. recall so far in 1998 was a voluntary recall of more than 2 million liters of contaminated carbonated beverages in June. David Page, director of the special risks division of London-based broker Nelson Hurst International Ltd., said small product recalls are almost a daily occurrence in the United Kingdom, with children's toys and manufacturing parts among the most frequently recalled products. However, he said, it is the 'big name' food and...
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