Product liability insurance Sunday, June 18, 2006
Protection against financial loss arising out of the legal liability incurred by a manufacturer, merchant, or distributor because of injury or damage resulting from the use of a covered product.
Insurance of the liability of the manufacturer or supplier of goods for damage caused by their products.
Protection against liability arising out of the handling or use of the existence of any condition in goods or products manufactured, sold, handled or distributed by the insured if the accident occurs after the insured has relinquished possession to others and away from the insured’s premises. Coverage also applies to accidents caused by faulty workmanship if the accident occurs away from the insured’s premises and after the work has been allegedly completed.
Insurance taken out by manufacturers, wholesalers, distributors and sometimes retailers against claims arising out of the consumption, handling or use of a product or goods away from the premises where the goods are manufactured or sold. Product recall is also written under this heading if specified.
Coverage that protects a firm against financial loss when a person files suit claiming they were injured by its product.
posted by your Insurance @ 10:12 AM,
