Liability experts of the industrial insurer AGCS suspect an increased liability risk for companies. They refer to figures from both the USA and Germany and find that the average settlement sum of the 50 largest US courts has almost doubled between 2014 and 2018 and that plaintiffs against companies are being awarded higher compensation sums.
The high number of production recalls is particularly striking. In 2019, the highest figure of the decade was recorded, with 475 recalls within the EU in the automotive industry alone.
The increasing concentration in the industry is a problem, he said. According to AGCS, the Japanese airbag manufacturer Tataka, for example, supplies 19 car manufacturers, but after more fatal accidents and injuries at work were reported, the study shows that between 60 and 70 million cars were recalled within the period from 2002 to 2015.
In addition, the corona pandemic may pose a new threat to product safety. On the one hand, more attention is now being paid to hygiene regulations, but according to experts, temporary plant closures, home offices and irregular supply chains pose an increased threat to product safety.
New environmental regulations such as high indoor air quality could cause new complications for companies. For example, the probability of legionella and mold growth in business premises increases due to previous closures.