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Product Liability Insurance

Covers you from liability due to claims by consumers of bodily or property damage caused by using your product, even though it is out of your supervision and already in the marketplace via wholesalers and/or retailers.
Factors that may lead to damage caused by products include:

  • Design/formula: errors in calculation or inaccuracies in laboratory research
  • Manufacturing/production: faulty machinery or careless workers
  • Warning system: packaging, usage/handling instruction, or expiry date

Product Liability Insurance is divided into two areas:

  • Product Limited Operations Liability: this covers liability while the product is still under your supervision.
  • Product Completed Operations Liability: this covers liability from damages caused by using your product even if it has already reached the end user and is out of your supervision.