First edition provides critical insights into recall trends and regulatory developments
SYDNEY, 19 September 2024 – Today Sedgwick brand protection launched the inaugural Australian edition of its renowned Recall Index report. Having established itself over the past decade as the definitive resource for product safety professionals in the United States, UK, and EU, the report now brings it expert analysis to the Australian market. The first edition provides in-depth insights, recall data, and regulatory forecasts for five key industries during the past twelve months, helping local businesses mitigate product recall risk, litigation, and reputational damage.
Sedgwick’s biannual Australian Recall Index provides unrivalled analysis of product safety and recall data across the automotive, consumer product, food, pharmaceutical, and medical device industries. The report shares product recall data from key regulatory bodies, including the Food Standards Australia New Zealand (FSANZ), Australian Competition and Consumer Commission (ACCC), the Department of Infrastructure, Transport, Regional Development, and Communications (DITRDC), and the Therapeutic Goods Administration (TGA). Additionally, it includes critical insights from the TGA data on defect corrections, defect alerts, and hazard alerts specific to the pharmaceutical and medical device sectors.
The Australian Recall Index reveals that across the five sectors analysed, there were 602 corrective actions in H1 2024. This marks a 2.7% increase over the 586 events recorded in the previous six-month period from July to December 2023 (H2 2023). Both the pharmaceutical and medical device sectors reported more recall actions in H1 2024 than in H2 2023, increasing 17.5% and 5.3% respectively. Of all industries analysed, the food sector experienced the greatest uplift, with 25.8% more events in H1 2024 compared to H2 2023. In contrast, the automotive industry saw a 6.2% decline in recalls, while the consumer product sector recorded 6.0% fewer events.
In addition to the latest recall data and analysis, Sedgwick’s report provides valuable insights into current regulatory activity and perspectives on what stakeholders across Australian industries should be following. Sustainability remains a top priority for regulators such as the DITRDC and the ACCC, with initiatives like Australia’s first emission standards for new vehicles that aim to reduce the environmental impact of businesses.
Looking forward, Australia’s Net Zero 2050 goals will have a growing influence across several industries. The government wants companies to work collaboratively to help reach the country’s sustainability goals, even if that involves practices typically viewed as non-competitive. Additionally, there are comprehensive plans to overhaul the transportation system and infrastructure to align with environmental objectives.
Regulators are also focussed on enabling the introduction of more innovative products to market—including pharmaceuticals and consumer goods—while ensuring Australian consumer safety. The TGA is advancing recall reforms for medical devices, pharmaceuticals, and other therapeutic goods to provide consumers with critical information more swiftly. Labelling has been another key area of focus for regulators, with FSANZ enacting new requirements for allergen labelling and the TGA issuing a new guidance for medical device manufacturers and sponsors to enhance product transparency and safety.
“We are excited to bring our Recall Index report to the Australian market to help companies understand the evolving regulatory landscape and how new rules may impact their business,” said Chris Harvey, said Chris Harvey, Senior Vice President of Brand Protection for Sedgwick. “Commerce and supply chains are truly interconnected. What happens in Australia impacts the U.S. and Europe, and vice versa. We are seeing regulators in multiple jurisdictions taking a more aggressive approach to enforcing consumer protection laws. This creates more risk for companies and increases the need for well-tested recall and risk management plans.”
To download the H1 2024 Australian Recall Index report, click here.
The Sedgwick brand protection Australian Recall Index is published twice a year. It is the only report that aggregates and tracks Australian recall data to help industry stakeholders navigate the regulatory environment, product recalls, and other in-market challenges. For more information, visit www.sedgwick.com/brandprotection.
For over a decade, Sedgwick brand protection has produced industry-leading Recall Index reports for the U.S. and European markets, which are regularly downloaded by product safety professionals in over 100 countries. To access the latest U.S. and European reports, click here.
About Sedgwick
Sedgwick is a leading global provider of claims management, loss adjusting and technology-enabled business solutions. The company provides a broad range of resources tailored to clients’ specific needs in casualty, property, marine, benefits, brand protection and other lines. At Sedgwick, caring counts; through the dedication and expertise of over 33,000 colleagues across 80 countries, the company takes care of people and organisations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact performance. Sedgwick’s majority shareholder is The Carlyle Group; Stone Point Capital LLC, Caisse de dépôt et placement du Québec (CDPQ), Onex and other management investors are minority shareholders. For more, see sedgwick.com.
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