Product Liability
If your business activity involves sale, supply, service or manufacture of products, you are responsible for the quality of such products and any liability that may arise from such products once these are sold and/or delivered. Essentially, you are legally responsible for any damage that such products cause to the customers of such products.
Product liability insurance is designed to protect the business from claims resulting from accidental death/bodily injury or accidental damage to property belonging to a third party caused by nature or condition of any product manufactured, constructed, erected, sold, supplied, and/or serviced by you and/or your employees while engaged in the business
Products liability insurance should be taken out by any business, large or small that manufactures, sell or supply goods/products.
With optional covers available to choose from, you can also tailor the policy to best meet your business needs.
The premium is based on several factors viz. nature of product, territory, etc and generally determined on the basis of Turnover of the business and the limits of liability (indemnity) selected
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