Whether you’re a manufacturer, supplier or retailer, your customers expect you to have safe and reliable products. And while you may do everything in your power to ensure your goods are fit for sale, exposures such as design flaws, manufacturing defects, inadequate warnings and unclear instructions can all negatively affect product safety.
In the event that one of your products harms a customer or other stakeholder, they can sue your business, leading to costly legal fees and settlements that can easily amount to six figures or more. What’s more, following a product issue, organizations must take corrective actions to curb losses and preserve their reputation. This can include carrying out a product recall, which is a complex and heavily regulated process.
For additional help, contact
GDI Insurance Agency, Inc. at 1-209-634-2929.