A recall can be costly for a food manufacturer. But what if the contaminated food is shipped to other manufacturers and used in other products? What if those products hit retail shelves? The potential cost of a recall can quickly become catastrophic if it extends to customers, distributors, and retailers.

More trucks on the road can increase the frequency of accidents, including fatalities. Controlling losses continues to be a challenge for the trucking industry as the sector struggles to hire qualified drivers and balance rising operational costs. Read more about what’s happening in the trucking industry and the unique risks facing insureds.

In 2024, manufacturers are expected to face economic uncertainty based on the ongoing shortage of skilled labor, lingering supply chain disruptions, and new challenges around innovation and climate change. Like any other industry, mistakes happen in manufacturing, which means maintaining both E&O and product recall coverage should be an important part of any company’s risk management plan.

Price increases are decelerating in a more manageable excess trucking market after sharp hikes over the last two years. Still, carriers remain cautious and selective. Smaller accounts may have an easier time, but larger accounts should expect a bumpier ride.

Some construction projects pose greater difficulty in obtaining insurance coverage, including those utilizing EIFS cladding, projects planned on difficult terrain or in urban areas, and structures using modern, engineered timber. Specialist wholesale brokers can provide the guidance needed to find the most appropriate coverage for unique or challenging builds.