Product Liability Insurance covers businesses against potentially catastrophic product-related events:
- Compensation awarded as a result of damage to property or personal injury caused by your product.
- Unforeseen circumstances, such as product faults your quality control system couldn’t trace.
Please note that if you simply make an inferior product, you may be unable to make a claim, or even receive insurance coverage. Bad workmanship is not covered either.
Before issuing a policy your insurer will want to know the following:
- Manufacturing or services are conducted according to industry best practice
- Staff are adequately trained
- Equipment and systems are appropriate, up to date and well maintained