SA businesses to take precaution against product recalls
Product recall incidents occur almost on a daily basis across the globe, with two of the most recent cases being the recall of Mars chocolate bars in 55 countries and a manufacturer of child safety seats having to recall over 56 000 seats in Detroit. Closer to home, here in SA, Kia Motors have initiated what appears to be a very well structured recall strategy involving 800 vehicles. The rising number of product recalls highlights the importance of comprehensive and proficient Product Recall and Guarantee Cover in place to allow businesses to mitigate the risk of severe financial loss or, in the worst case scenario, liquidation in the event of a product recall.