The Company is exposed to product liability and warranty claims in the event that the Company’s products fail to perform as represented and such failure results, or is alleged to result, in bodily injury, and/or property damage or other loss. The Company has reserves for product risks. Such reserves are related to product performance issues, including recalls, product liability and warranty issues. For further explanation, see Note 9. Contingent Liabilities below.

For the three months ended March 31, 2022, provisions and cash payments primarily relate to warranty related issues. For the three months ended March 31, 2021, provisions and cash paid primarily related to warranty related issues. As of March 31, 2022, the reserve for product related liabilities mainly relate to recall related issues.

Pursuant to the agreements entered into in connection with the spin-off of Veoneer, Inc. on June 29, 2018 (collectively, the “Spin-off Agreements”), Autoliv is required to indemnify Veoneer for recalls related to certain qualified Electronics products. As of March 31, 2022, the indemnification liabilities associated with Veoneer are approximately $9 million and included within Accrued expenses on the Condensed Consolidated Balance Sheets.

The table below summarizes the change in the balance sheet position of the product-related liabilities (dollars in millions). A majority of the Company’s product-related liabilities as of March 31, 2022 are covered by insurance. Insurance receivables are included within Other current assets and Other non-current assets on the Condensed Consolidated Balance Sheets. As of March 31, 2022, the Company had total insurance receivables of $150 million.


	Three Months Ended March 31,
	2022			2021
Reserve at beginning of the period	$	144		$	341
Change in reserve		9			4
Cash payments		(3	)		(6	)
Translation difference		(0	)		(11	)
Reserve at end of the period	$	150		$	328