There has been no shortage of food recalls in the news as of late. From lettuce, to eggs, to sausage, the number of contaminated food products making the headlines has been noticeable. But have the number of food recalls actually been increasing in recent years? Or does it just seem that way from what we read in the news?
To get a better understanding of general product recall trends, and how the food industry fits into those trends, Advisen tapped into its loss database in search of answers.
What we found is, overall, the frequency of product recalls has been rising. In fact, Advisen loss data shows the number of product recalls has doubled since 2009.
It is important to note that Advisen sets up a distinct case for each separate product being recalled. A single recall that includes several products can give risk to several cases.
The food products industry, however, represents just 10 percent of the total recalls in Advisen’s loss database which includes cases dating back to 2000.
The food products industry includes producers of agricultural products, companies that raise livestock or poultry, fishing companies, and producers of packaged foods including dairy products, fruit juices, meats, poultry, fish and pet foods.
But in recent years the food products industry has seen a significant uptick in product recalls. In fact, when comparing the five industries with the highest percentage of product recalls overall, the food products industry has had the highest frequency of recalls in three of the last four years.
This story in an excerpt of the original. The content originally appeared in Professional Front Page News.
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Josh is an Editor at Advisen in the Research & Editorial division. He is the lead editor responsible for several of Advisen’s Front Page News editions and he also originates custom research on behalf of Advisen’s largest insurance company clients. Contact Josh at [email protected].
