Product Liability Insurance Policy

Product Liability Insurance Policy

Product Liability Insurance

Product Liability Insurance Policy

This policy can be taken by any manufacturing or industrial organisation.

This policy covers.

  • Legal liability arising out of accidents due to any defects in the products sold or supplied by the Insured.
  • Legal costs, fees and expenses incurred with the prior consent of the Company.

This  policy does not cover liability arising out of

  • Cost, repair or replacement of allegedly defective product.
  • Product recall.
  • Contractual agreement liability.
  • Any product which is intended for incorporation into any aircraft.
  • Financial loss or loss of goodwill.
  • Deliberate, willful, intentional non-compliance of statutory provisions.
  • Any product guarantee.
  • Fines, penalties, punitive or exemplary damage.
  • War and nuclear perils.

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Posted in General Insurance.

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