It’s always good to feed in that product recall data, especially when assessing Commercial stock risk, reputational cover, Directors liability etc.
Here’s the word from Sedgwick;
Sedgwick brand protection has released its latest report into European product safety and recall, which reveals lingering concerns about supply chains and regulatory oversight across the five key industries surveyed. According to the findings in the recall index report, while many countries and businesses eased pandemic-imposed restrictions to operations, there were lingering concerns about supply chains and regulatory oversight across the industries surveyed.
The recall index report reveals a decrease in overall product recalls activity in Europe by 2.4% in the first quarter of 2022, indicated by a decline in events within the pharmaceutical (28.0%), medical devices (17.3%), and food and beverage (10.3%) sectors. However, certain sectors such as automotive saw a significant rise in recall activity with an 155.1% increase, as well as consumer products including clothing (131.3%), toys (9.0%) and electronics (44.8%).
The recall index report takes an in-depth look at recall data and regulatory developments in the EU and UK, as well as product safety trends, insights and analysis to help business leaders mitigate risk to their operations and reputation as they navigate new trade rules under Brexit and ways the pandemic has changed the world.
To download the latest report, visit European product recall index report.