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Product Risk Solutions

A delay in quantifying the costs incurred as a result of a product recall may impact negatively on any claim for losses that is subsequently prepared.

Some important questions to consider:

• Do you know the full range of costs that are likely to be incurred in a product recall?
• Do you have appropriate procedures in place to track costs in the event of a product recall?
• How will a product recall impact on your profits?
• What costs will your product recall insurance cover?
• Do you have the resources available to prepare your claim for losses incurred in a product recall in a timely manner?

KPMG Forensic Can Help

In the event of a product recall, our Product Risk Solutions team is able to advise clients on the claim (to either insurers or third parties) for losses incurred as a result of the recall. 

We can:

• Assist in capturing sufficient documentary evidence to support the claim;
• Quantify the volume and value of stock that has had to be recalled;
• Calculate the additional costs incurred during the recall (e.g. transportation, destruction costs, advertising);
• Help ascertain the appropriateness of expenditure incurred in returning the product to the market; and
• Quantify the loss of sales and profits during the recall and beyond.
  
  

We are experienced in acting for clients with product recall and liability claims across many industries.  Drawing upon the expertise of KPMG’s global forensic network, we have the resources to assist clients facing a product recall across many jurisdictions.

For more information and examples of our work please contact:
Nick Andrews, UK Head of Dispute Advisory Services	tel: 020 7311 3848
Steve Thompson, Director	tel: 0121 609 5903
Jarrod Baker, Manager	tel: 020 7311 3997