A product placed on the market can create liability if it causes bodily injury or property damage to a third party. Product Liability Insurance covers specified legal liabilities faced by manufacturers, distributors, wholesalers and retailers in connection with products they manufacture, supply or sell.
A product-related incident can lead to compensation claims, legal expenses and significant financial pressure. The appropriate cover depends on product type, markets, turnover, distribution model and claims exposure.
For accurate underwriting, prepare details of the products, markets, turnover, distribution model and claims history where applicable.
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