U.S. food recalls have nearly doubled over the past decade.

• Food recalls occur with relative frequency in the United States, with the reasons for such recalls ranging from labeling issues to food safety concerns, such as potential contamination with pathogens like Salmonella, Listeria, or E. coli.  FDA posts up-to-date information regarding food recalls on its website.
• A recent analysis published by a prominent reinsurance company, Swiss Re, indicates that both the number and the costs associated with U.S. food recalls have almost doubled since 2002.  According to the analysis, 52% of all food recalls cost the affected companies more than $10 million, a figure that does not include costs associated with any reputational damage resulting from the recall.
• These statistics serve as a reminder of the importance of good risk/crisis management strategies and the potentially significant value of a robust recall insurance policy.