Other corrective actions may include:
- Issuing a statement about the product.
- Calling retailers you know carry the product.
- Coming up with a solution to fix the problem ASAP.
O’Brien warns not to “allow a culture of covering it up at your company,” citing the mistakes of auto maker GM, “with regard to ignition switch defects, where they ignored a known problem for years, until several people suffered severe or fatal injuries.” At that point, your behavior might be construed as criminal and you may not enjoy coverage from your small business insurance.
Above all, O’Brien says, be vigilant in seeking ways to make your product safer. State-of-the-art equipment and technology will alter the safe design of a product with time, so stay up to date and knowledgeable about your responsibilities.