I wrote a post in September of this year about some toy recalls and how businesses can purchase recall insurance. Considering that Mattel Inc. (MAT) “recalled more than 21 million toys”, according to a LA Times article, I’m sure many businesses are purchasing some recall insurance or increasing their current coverage.
With the Healthy Toys site now available consumers can have a chance to know what toys are returning negative results and in turn better protect their children. You can also submit a toy you own for testing if it’s not currently within the Healthy Toys database.
It seems to me that our desire for cheaper products has come full circle. The rules and regulations in other countries that produce the millions of toys consumed in the United States are turning out to be quite different. This is an issue that is not going to go away anytime soon and will affect many other products aside from toys.
Would you rather spend more money on a toy for your child knowing that the manufacturing process for that toy was safer or spend less money but take a risk with the safety of that toy?