Safe is not simply ‘free of risk’; instead a product is deemed safe when its attendant risks are judged to be tolerable. The determination of safe requires both a risk assessment and a judgment of the tolerance of the risks.
Risk tolerance is one of the most difficult and controversial decisions regulators, industry, risk managers and consumers make. A number of examples demonstrate an apparent inconsistent determination of risk tolerance:
· Products with zero reported incidents can be recalled globally
· Products involved in fatalities may remain in the marketplace for years
· Products banned in one country are ok to sell in another
· Products with known risks may be deemed more tolerable/controllable than the ones unknown
The tolerability of product safety risk is influenced by policy, culture, and familiarity along with numerous other factors. This session presents an interesting dynamic with panel discussions and audience interaction.