As with many developing niche insurance markets, the product recall market currently faces a potential crisis of conﬁdence. Losses are building, new regulations and political issues are impacting insureds, and pricing competition and wording creep are making the sector less attractive to insurers.
Many brokers are concerned that client dissatisfaction with wording is making the sector more risky, and they are less keen to invest in expertise and grow their product recall teams. So how do we learn from the mistakes of the past and avoid a potential market dislocation in the future?
Find out my my latest white paper, which you can read here.