Sedgwick brand protection releases Q3 2024 European Recall Index report
LONDON, 20 November 2024 – The third quarter of 2024 saw the highest quarterly total for European product recalls in more than 10 years, according to the latest Sedgwick brand protection European Recall Index report. With 3,570 European product recalls recorded across five key sectors, this marks the third consecutive quarter with over 3,500 events.
Sedgwick’s quarterly report analyses recall data from the UK and EU automotive, consumer product, food and beverage, pharmaceutical, and medical device industries. Three of these sectors saw recalls increase quarter-over-quarter. The largest gains occurred in the pharmaceutical sector, where recall numbers rose by 44.9%. This was followed by the consumer products industry, which saw events increase by 28.4%. Medical device recalls increased a more moderate 7.3% quarter-over-quarter. The automotive, food and beverage sectors experienced fewer recalls compared to last quarter, falling by 24.3% and 17.5%, respectively.
In addition to the latest recall data, Sedgwick’s report also provides insights into recent regulatory activity and predictions for what product safety stakeholders should expect as we approach 2025. In the third quarter, several industries navigated new safety regimes, including a new UK Product Safety and Metrology Bill that is advancing through Parliament and will reshape product recalls, as well as planned changes from the Medicines and Healthcare products Regulatory Agency (MHRA) on medical device regulations. The EU is also still working to advance its revised medical device and in vitro diagnostic medical device rules.
Another area of focus is marketing claims relating to sustainability and product attributes. In the UK, the Competition and Markets Authority (CMA) advised clothing companies on the need to have support for any environmental claims. Meanwhile, regulators in both the UK and EU are intensifying efforts to combat false claims, fraud, and other violations across the food and beverage sector. Following the recent EU and UK elections in June and July, businesses and regulators are working to determine the best strategy with new lawmakers in place and potential shifts in regulatory priorities
“We see no signs that the increase in product recalls will slow any time soon,” said Chris Occleshaw, International Product Recall Consultant at Sedgwick. “Businesses are facing logistical and reputational challenges associated with in-market events, as well as increasing obligations as new regulations take effect. Heading into 2025, businesses will need to reevaluate their existing recall and crisis plans to account for compounding risks and more responsibilities for the full product life cycle.”
To download the latest European Recall Index report, click here.
The Sedgwick brand protection Recall Index report is published every quarter. It is the only report that aggregates and tracks recall data across the UK and EU to help industry stakeholders navigate the regulatory environment, product recalls, and other in-market challenges. For more information, visit https://www.sedgwick.com/brandprotection.
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 organizations 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, Altas Partners, CDPQ, Onex and other management investors are minority shareholders. For more, see sedgwick.com.
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Tags: automotive, automotive recall, brand recall, Claims, consumer products, consumer recall, EU recall index, Europe, European product recall index, food and beverage, pharmaceutical recall, recall