Biotechnology Raises Insurance Question

Biotechnology Raises Insurance Question

OLDWICK, N.J.--According to an article published in the June issue of Best's Review magazine, biotechnology faces liabilities which range from bodily injury to product recall to advertising claims. Insurance industry insiders speculate that uncertainty of this technology may pave the way for future litigation. Bodily harm may be the most liable concern, especially if a consumer claims illness due to eating genetically modified (GM) food products. Insurers may also have to pay third-party claims if a product is recalled. Additionally, if food manufacturers advertise that products are GM-free, but are found not to be, legal action could be taken. Although these scenarios may be highly unlikely, the article recommends that both GM and GM-free companies should take precautions in keeping their brands stigma-free. For more information, contact Lynna Goch at[email protected].