Thompson Hine’s Risk Management lawyers help companies identify and develop practical ways to limit their exposure to product liability claims. When an incident occurs involving a company’s product, the company’s manufacturing and business practices are often scrutinized, because manufacturers are legally responsible for many aspects of the products they create. Education and prevention are essential to avoid becoming embroiled in a “bet-the-company” case.
Our Risk Management lawyers advise and counsel companies on the most prudent strategies to eliminate, reduce, or manage their product liability exposure and other risks. We use our experience with product liability claims and knowledge of potential losses and risks to implement proactive measures before a claim occurs.
In addition to many other risk management services, we conduct product and manufacturing audits; prepare product literature and warnings; implement plans to transfer risks contractually; counsel on insurance coverage issues; develop effective recordkeeping practices; and prepare and assist companies in responding to crises
Product liability claims are costly, time-consuming, and potentially damaging to a company’s reputation. Some companies may never recover from the negative publicity, consumer defections, and extensive economic loss surrounding these claims. Having a comprehensive risk management program in place is paramount to company success for many reasons:
Companies facing these issues should consider Thompson Hine’s Risk Management services.
Product Design and Manufacturing Evaluations
Product Literature, Web Site and Marketing Materials Review
Contract Review and Risk Transfer Options
Insurance Coverage and Policy Review
Recordkeeping, Document Management and Discovery Planning
Crisis Response and Accident Investigation
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