A sluggish cycle time, from subrogation identification to recovery, will affect your bottom line, crippling recognition percentages and allocated loss expenses. This is why it is so important we bring recent Consumer Product Safety Commission (CPSC) recalls to your attention. Doing so, keeps our network of adjusters informed of products that are defective or of issue. In addition, adjusters can stay informed of and identify products of issue through emerging trends and other reputable resources, such as the Claims and Litigation Management Alliance (CLM) and the Property and Liability Resource Bureau (PLRB).
Distinguishing a solid file for recovery can be complicated. When a defective product causes a loss, the manufacturer of the product, the wholesaler, and the distributor may be liable. To know under what circumstances a manufacturer, wholesaler, distributor, or the supplier can be held liable is equally demanding and important to know. Therefore, when files such as these arrive and you are wondering who is responsible for the damages the product caused, contact us. We’ll help you identify claims with subrogation potential and propose a plan to identify the responsible third-party and get your company paid.
Consumer Product Safety Commission product recalls
Recently, the Consumer Product Safety Commission released the following product recalls: