When contaminated counterfeit toothpaste ended up on grocery store shelves in several U.S. states, the property-casualty insurance industry took notice. Hazardous counterfeit products and the threat they pose to food, drug, electronics and other manufacturers are a major concern for insurers–especially how the issue will affect product liability.
Yet that is just one of many emerging trends that insurers are tracking today because of their potential insurance implications. (See the accompanying list for just some of the new challenges facing carriers, brokers and risk managers.)
Insurers are devoting more resources to tracking emerging exposures, with an eye toward the potential coverage implications.
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