How SMEs Can Tackle Product Liability Risks
The recent article published by Strategic Risk, “How SMEs Can Tackle Product Liability Risks,” by Randy Sadler, Principal Chief Marketing Officer at CIC Services, highlights the escalating challenges of product liability risks faced by businesses in an era of globalization and increased consumer awareness. Large corporations can weather legal damages, but smaller enterprises lack financial cushioning against such crises. Complex global supply chains make businesses susceptible to unforeseen risks, often outpacing traditional insurance models which is why Captive insurance, an established yet increasingly relevant form of self-insurance, is gaining momentum.