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Product Liability Insurance has become essential due to the vast array of products manufactured and sold in today's industrial society. Defective products can cause serious harm, including death, bodily injury, illness, and property damage.
This insurance provides indemnity for claims arising from accidents during the insurance period. Coverage applies to claims made in writing against the insured during the policy period, specifically related to defects in the products listed in the policy schedule. The insurer provides indemnity under the operative clause for claims arising from injury, damage, or pollution connected with the specified products.
Product Liability Insurance offers protection against the costs of compensation for:
This insurance is crucial for businesses to safeguard against financial losses and legal liabilities resulting from defective products.
