Products Liability - When the Unthinkable Happens

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Products liability - the phrase invoke images of a burden some, arduous and exorbitant litigation process, tarnished corporate reputation and concomitant lost revenues. Yet determining whether a company has potential products liability exposure can be a difficulty process, declared Richard C. Reynell, senior vice president at Becher & Carlson Risk Management, Inc. in Marietta, Georgia. Speaking at the session "Thinking the Unthinkable - When Products Go Boom!" Mr. Reynell stated that many of us know that this unknown dimension of catastrophic product losses lurks within our companies, but we've never had such a loss, so we don't how to deal with one when one occurs."

Fortunately, risk managers can devise a strategy to help them determine if their companies have a potential …