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7/19/2013 - Recalls were quite common in 2012

Business execs should take product recalls seriously.

Each year, the Consumer Product Safety Commission recalls millions of products due to an internal flaw or human error that presents a safety risk to the public. In 2012 alone, about 59 million pieces of merchandise were ordered back, oftentimes leading to substantial losses in earnings for the companies involved due to everything that comes with the recall process.

Recently, insurance news website PropertyCasualty 360 compiled a list of the items the CPSC recalled due to various hazards that were either reported or discovered through analysis.

Many homeowners had to wash their tableware by hand following dinner, when General Electric and the CPSC recalled 1.3 million dishwashers. The recall was necessary, though, as the Bethesda-based independent agency received more than a dozen reports of incidents involving fires when the appliance overheated when in use.

Home improvement projects aren't meant to lead to injury, but that's just what happened for at least 15 people who were using Kennedy International's folding step stool. With at least two people incurring severe back injuries after the stools gave way, the CPSC and the wholesale company recalled 1.6 million of the step stools in order to ensure no other accidents took place.

Rash of child injuries prompts baby product recall
Perhaps the most serious of safety issues is when young children are at risk. So when four children under two months old suffered skull fractures while they were in the bathtub, the CPSC recalled 2 million baby bathers made by Summer Infant. PropertyCasualty 360 notes that five other babies suffered head injuries, but they weren't quite as severe.

But the company that had the dubious distinction of having to recall more of its product offering than any other was Map Pro, a company that makes gas cylinders used for smoldering, welding and other masonry work. Though no injuries were reported, testing determined that the seal surrounding certain gas cylinders could leak, potentially causing a fire when near a flammable source. More than 29 million of the cylinders were called back as a result.

Though all of these recalls presented serious safety hazards for those who use the products, they no doubt created severe headaches for the companies involved. And if they didn't have the proper businessowners insurance, millions of dollars were lost. Selective offers Product Recall coverage for company managers and CEOs so that as little financial damage as possible results for companies that have to deal with these incidents.

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