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What is product liability?

Product liability is the legal responsibility of a manufacturer, distributor, or retailer to ensure that the products they sell are safe and free from defects. This liability arises from the sale of a product and is based on the idea that consumers should be able to use products without fear of injury or harm.

How to Protect Your Product and Your Brand with Liability Insurance?

So you’ve got an idea for a new product that is going to fill a need that no one has thought of before. And you know that the manufacturing of this product and sales will bring in lots of money. But before you count the eggs before they’ve hatched, you need to do one more thing besides get your product designed and manufactured and sold.

Is Product Liability Insurance Important to Carry?

A lot of people think that products such as office equipment used within a business are not worth insuring since they tend to depreciate and lose value over time. Besides, they can become obsolete owing to the rapid development and innovation of new products. Insuring products and equipment would be covered in a general product liability insurance policy.

Should Your Small Business Carry a Products Indemnity Insurance Policy?

When it comes to selling, manufacturing, distributing, or otherwise being involved with product distribution to consumers, product liability business insurance is a must-have. Product liability insurance protects a business against financial losses by covering legal expenses arising from claims and lawsuits that are based on product defects or exclusions of warnings that subsequently cause injury or damage.