Product Liability Insurance provides cover for claims made against you in connection with a product you have sourced, sold, designed or manufactured that may have caused damage or injury to another person or property.
A manufacturer, supplier, distributor, or retailer may be held liable for bodily injury or damage to property of others caused by defective products. This policy seeks to cover liabilities arising out of the use of a specific product.
Not only is Product Liability Insurance a common vendor requirement for all major retailers, importers and licensors, it can also be viewed as an indicator of responsible due diligence and professionalism in a supply chain.
We’ve seen our client’s turnover soar with what can be considered as a ‘barrier to entry’ removed, and the benefit of it in differentiating a business from similar competitors, and improving entry to distribution channels which otherwise may have been closed.
Our Product Liability Insurance policy covers the insured’s legal liability for bodily injury or property damage caused by a defective product which it has manufactured, distributed, or sold. This includes all costs and expenses incurred in defense of justified and unjustified claims.
With years of experience in both Product and Public Liability Insurance, with Azure Risk you can get your business insurance cover in one place.