Industry set to dodge $2.3bn Samsung phone loss

Samsung has no product recall policy in place for the exploding
batteries in its Galaxy Note 7 phones, which look set to cost the
mobile phone manufacturer $2.3bn, The Insurance
Insider understands.
Sources said that although Samsung had bought the cover across
its range of products in previous years, it had no such cover in
place for small batteries at the time of its mass recall of the
$885 smartphone, after hundreds of units suffered critical failures
worldwide.
In September...