Product Liability Insurance

Customizable Protection Against Product Liability In Manufacturing And Supply

Why Is Product Liability Insurance Important?

In today’s increasingly litigious environment, product liability insurance is not just a safety measure but a critical layer of protection for businesses that manufacture, distribute, or sell physical goods. A single defective product can lead to claims that cost millions in legal fees, settlements, and reputation damage.

cargo warehouse

The Real Risk of Product Liability Claims

A 2023 report by the Insurance Information Institute (III) revealed that product liability jury awards in the U.S. averaged over $7 million, with some verdicts reaching well into the tens of millions, particularly in cases involving serious injury, death, or widespread damage. 

Beyond the payouts themselves, the legal fees, court costs, reputational harm, and operational disruptions can severely impact a company’s bottom line. Even in countries with more moderate awards, these financial and legal burdens have been enough to bankrupt small and mid-sized businesses. 

Product liability insurance is not just a safety net; it is a strategic necessity for any business that designs, manufactures, distributes, or sells physical products.

Without product liability insurance, your company may be financially responsible for several things, such as:

  • Medical bills or compensation for injured consumers
  • Property damage
  • Legal defence fees, settlements, and court judgments

These financial burdens can hit even the most careful businesses due to factors like:

  • Design flaws
  • Manufacturing defects
  • Inadequate instructions or warnings

It Is Not Just for Manufacturers

Many businesses believe that only manufacturers need this coverage. But in reality:

  • Retailers can be held liable for selling defective products.
  • Importers can be sued for products manufactured overseas.
  • Online sellers face increasing risk, especially under evolving e-commerce liability laws.

Your Insurance Expert

We deliver tailored advice to fit our clients’ requirements and ensure they understand the options available to them. Contact us for a free personalized assessment of your policy needs.

Why Choose Us?

We at Azure Risk combine deep industry expertise with a commitment to understanding your business. Partner with us to protect your operations and reputation with a policy that evolves alongside your company’s ambitions.

Get in touch today to learn how our Freight Forwarders Liability Insurance can safeguard your business, your cargo, and your peace of mind.

Global Compliance & Trust Building

Product liability insurance also shows clients, partners, and investors that your business is compliant, responsible, and prepared. This insurance is often a mandatory contractual requirement for exporters or businesses working with larger retailers or distributors.

cargo container
anmol sawlani presenting cargo insurance

Build a Stronger Risk Strategy With Azure Risk

At Azure Risk, we deliver more than just insurance; we provide strategic risk advisory services. Our specialists work with you to identify exposure, align coverage with your operational needs, and ensure compliance with evolving regulatory standards. 

We help you mitigate product-related risks with tailored liability solutions that support business continuity and growth. Let’s talk today!