The successive recalls of Toyota cars may have a significant impact on insurance

Toyota has just recalled several millions of its vehicles due to defective accelerator pedals. Lawsuits lodged by clients seeking damages have been already reported in the United States. In addition to these actions, directors and officers may be held accountable for mismanagement of this case. Toyota and crash victims may also press charges against some of the sub-contractors. Moreover, insurers may, under the provisions of subrogation, proceed likewise and seek to recover part of their losses and those losses pertaining to previous accidents caused by the same failure. The Japanese manufacturer has estimated the cost of the recalls at 2 billion USD. The great Japanese car manufacturers, in general, get covered on the local market. They resort to the international market only after fulfilling the local capacities.

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