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.