Determining the Level of Acceptable Risk

Every corporation must accept a certain level of risk associated with its products.  This acceptance level varies as a result of management perceptions, environment, financial stability and marketplace demands. A certain threshold of acceptance of risk has been established through the demands of the marketplace in product liability lawsuits, and specifically, jury verdicts.  Other marketplace demands are consumer expectations and government regulations.  Every corporation should strive to exceed these marketplace demands.

Product Liability Solutions, LLC can assist your company in recognizing the threshold level of risk your company can accept by:

1.  Analyzing product liability litigation against your company and comparable companies;

2.  Analyzing the jury verdicts against your company and comparable companies;

3.  Reviewing government, voluntary and industry standards for compliance; and

4.  Researching and analyzing consumer expectations toward your products.

Product Liability Solutions, LLC will also assist your company in the decision-making process surrounding the acceptance of risk by:

 1. Performing system safety audits and/or reviews to determine how the product or services should be designed and/or marketed.

2. Reviewing and analyzing existing and future product liability lawsuits to recommend either trial  or settlement of those lawsuits; and

3. Evaluating marketing data to provide potential recommendations with regard to post-sale  adjustment (recalls, field campaigns, customer communications, etc.).

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