June 19, 2024
FOR IMMEDIATE RELEASE

Product Liability Insurance Fuels Growth in the Dietary Supplement Industry

Columbia, SC, August 26, 2023 (USANews.com) – The U.S. dietary supplement sales have surpassed a whopping $41 billion. As this industry booms, manufacturers need to be prepared for potential pitfalls. Sadler Products Liability Insurance provides solutions and safeguards in the event of lawsuits or product recalls.

“Despite the strides in the supplement industry, the risks of liability and product recalls remain. These issues can severely impact manufacturers and their partners,” said Paul L. Owens, Risk Management Expert with Sadler.

The source of many problems for the supplement industry is poor manufacturing and inspection practices. As a result, the FDA found that almost half of the dietary supplement companies inspected were non-compliant with manufacturing guidelines.

“A worrying statistic is that around 25% of supplements contain unlisted ingredients. This discrepancy invites regulatory action from the FDA or litigation from customers, posing severe challenges for health supplement manufacturers or distributors,” Owens said.

Sadler Products Liability Insurance offers specially designed coverage to the dietary supplement industry. Insurance includes up to $5 million in liability limits on a primary basis and a variety of features offered specifically for dietary supplement firms.

Additionally, Product Recall Insurance is offered, which many manufacturers, distributors, and small-business owners don’t realize is not always included in Product Liability insurance.

“On the bright side, with a decline in violations, the cost of liability insurance is decreasing. This means more affordable coverage options for businesses,” Owens said.

Such insurance measures play a pivotal role in supporting the growth of dietary supplements, especially as countless individuals seek natural health solutions.

See more about Sadler’s dietary supplement coverage at http://www.products-liability-insurance.com/dietary-supplement-nutraceutical-industry/

For additional resources, information, or to apply online for product liability insurance, visit http://www.products-liability-insurance.com/ or call 1-800-622-7370 and ask for Paul Owens or the product liability department.

About Sadler & Company Product Liability: SADLER’s Product Liability division excels in delivering insurance solutions to manufacturers, importers, distributors, and home-based businesses.

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