In recent years, product recalls have become increasingly frequent occurrences.
For example, in September 2014, the Consumer Product and Safety Commission issued 25 product recalls, one for nearly every day of the month, and data from the Food and Drug Administration shows a surge in product recalls reported this year.
For small businesses, recalls can cause serious financial and reputational risks. But for many, accessing sufficient coverage through existing market offerings can be difficult—or even impossible.
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