What Is Product Liability Insurance? Modest Money2 Comments

The following is a guest post. If interested in submitting a guest post, please read my guest post policy and then contact me.

Product liability insurance is currently one of the most demanded types of insurance in the industry, due to its extended coverage. As you may already know, this policy is designed for manufacturers who want to be fully protected against claims related to the production of foods, medicines and any other products intended for public use. In other words, if the manufacturer’s product is responsible for losses or injuries due to the malfunction of the product or to a fabrication defect, this type of policy basically protects the manufacturer against compensation claims and even the legal fees that may arise. It often happens that some products can become defective or they can malfunction without a warning, thus causing extensive damage and injuries either to the buyer or to those that surround him – this is why manufacturers usually take out a product liability insurance, to get the peace of mind they need and to avoid paying staggering sums of money.

This basically protects the company from being sued and being held legally liable for the injuries…

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This entry was posted in Insurance, and tagged Modest Money2 Comments
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