Death of the Internet, Film at 11

bzs at TheWorld.com bzs at TheWorld.com
Sun Oct 23 19:41:49 UTC 2016


>So once identified, how do you suggest this gets fixed?

Assuming these manufacturers who are culpable carry product liability
insurance go to their insurance companies and explain the situation.

Better would be someone launching a product liability lawsuit against
one of them but it's not necessary, ins cos work on projections and
probabilities as much as being reactive.

The insurance companies will likely re-assess their risk on these
policies and inform the manufacturers of any adjustment in premiums.

If the premiums are adjusted up significantly the manufacturers will
sit down with the ins cos and try to determine what needs to be
improved in their product to bring premiums back down.

Look at what Samsung just went thru with the Note 7. I'd imagine their
product liability insurance premiums took a big hit. Even if they're
self-insured they have to treat that as a cost center and make sure
sufficient money to pay claims is going into that cost center.

It's a button to push, so to speak, and has been successful many times
in the past (cars, worker exposure to health hazards, etc.)

-- 
        -Barry Shein

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