Wednesday, 25 January 2012
Further sharp increase in UK product recalls in 2011
UK product recalls have increased by 27% in 2011 to a record 291, compared with 229 in 2010, according to law firm Reynolds Porter Chamberlain (RPC). This is the second year in a row to see record breaking increases.

Stuart White, Partner at RPC
This year’s increase was largely driven by a jump in recalls of faulty electrical consumer products, up 45% from 40 in 2010 to 58 in 2011.
Stuart White, Partner at RPC, said: “Product recalls of ‘white goods’ and other electrical products tend to involve lesser-known or budget brand names. The increase this year could have been fed by high consumer demand for cheaper brands, particularly in the case of bigger ticket household products like cookers or freezers. It may be that some white label or smaller producers have had to source cheaper suppliers to be competitive.”
In 2011 Beko, the Turkish electrical appliance supplier, recalled around 500,000 freezers after concerns that they were linked to a number of domestic fires. However, the company faced criticism from some consumer groups for failing to act swiftly enough after initial reports of a fault back in 2010, said RPC.
Please sign up here to our full-time mailing list to ensure that you receive our weekly newsletter.
Inability to accurately value information is holding back cyber insurance
Report for EC finds problems with nat cat insurance markets
Risk glass ceiling and not fit for purpose boards biggest reputational threat
Thai flood costs to mount as buyers face higher premiums and loss of cover
Deutsche Bank D&O insurers likely to hold firm in Kirch case
Insurers overwhelmingly concerned about data requirements of Solvency II
Latin American insurance market up 18.1% but penetration remains stunted
Corporate round-up
S&P raises P&I capital concerns
Roland Rechtsschutz-Versicherung appoints Bettina Hesse to board
JLT expands reach in Spain as it combines with Unipsa
IRM publishes Turkish version of ISO 31000 guide
Litmus launches training to better understand insurer numbers
In spite of progress, experts say tough tasks lie ahead for risk managers
New approach needed to cope with the global economy—Van Santen
Risk managers urged to increase involvement in M&A’s
S&P expects Eurozone to stay together as growth returns
Insurance leaders remind buyers that innovation costs money
Plus ça change, plus c’est la même chose
Lower prices and higher risks boost D&O in global program-free Brazil
Buyers angry as cat rates rise and limits fall—global programmes under threat






