The U.S. Department of Justice stated that “More than 4,000 ransomware attacks have occurred daily since January 1, 2016. This is a 300 percent increase over the approximately 1,000 attacks per day seen in 2015.”
Product contamination and product recall risks are becoming prevalent for many industries. In 2008 there were 351 FDA Class I recalls. Over the next 24 months, the number of Class I recalls had jumped to 1,499. The FDA defines a Class I recall as a situation in which there is a reasonable probability that use or exposure to a product will cause serious adverse health conditions or possibly death.
Topics: Claims Management, Manufacturing and Distribution, Retail, Risk Management Blog, Strategic Risk Management, Supply Chain Risk, TCoR, The ALS Group, Total Cost of Risk, Total Cost of Risk (TCoR)