Companies need to be vigilant in product quality testing not simply from an ethical perspective but from a financial one as well. Personal claims and property damage from consumer product safety incidents cost companies more than annually.

$700 billion

Explanation:

Companies need to be vigilant in product quality testing not simply from an ethical perspective but from a financial one as well. Personal claims and property damage from consumer product safety incidents cost companies more than $700 billion annually.

In the United States, consumers have a high level of right to safety and the regulators have provided industry safety standards for products sold in the U.S. The Consumer Product Safety Commission allows consumers to be able to sue manufacturers and claim huge damages for any breach in standards, the commission can also find such producers liable and hold them accountable for negligence in lack of adherence to quality standards. Personal claims and property damage from consumer product safety incidents cost companies more than __$700_billion_ annually.