Formula"Businesses may also find themselves overwhelmed with the threats to their reputation and their financial success with increased regulatory activity from agencies and lawmakers," Chris Harvey, senior vice president at Sedgwick, said in a release. (Credit: Imagestock/iStock)
During the first quarter of 2022, the U.S. saw more than 900 units recalled from across automotive, pharmaceutical, food and beverage, medical devices, and consumer products industries, according to Sedgwick's quarterly U.S. product recall index report.
The volume of units impacted marked the highest number of units recalled in a single quarter in the past decade and surpasses average yearly figures reported during that timeframe. For comparison, 2021 saw a total of 1 billion units recalled in the U.S., according to Sedgwick, which noted the total for 2022 is certain to surpass last year's total.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
