What Is a Product Liability Insurance Policy?

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PostPosted: Mon Aug 26, 2013 6:19 am   Post subject: What Is a Product Liability Insurance Policy?  

I’m aware of general liability insurance policy covering basic risks but don’t know what a product liability insurance policy would cover. Any reply would be appreciated.


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PostPosted: Tue Aug 27, 2013 1:07 pm   Post subject:   

If you manufacture a product, then product liability insurance would provide protection against damages caused by the use of your product, and not necessarily limited to the intended use of that product, or even the negligent use of the product by the purchaser.



Ever purchased a steam iron, for example? On the cord to that small appliance you will probably find a label attached that says, among other things, "unplug after use" and "do not iron clothes while wearing them" (70% of women over age 18 report having ironed clothes while wearing them -- like ironing a wrinkle in a skirt or dress; house fires have been caused by leaving an iron plugged in and not turned off -- so many irons now have circuitry that shuts off the product if it has been left standing for more than ten minutes). A person burned as a result of, or whose home burns down because of, a manufacturing defect in the iron could sue and collect damages due to the use of a defective iron.



While those warning labels do not prevent a lawsuit from being filed, they can limit the damages a person could claim for an injury caused by the use/misuse of the product.



If, on the other hand, you owned a restaurant, the meals you serve would not be covered under the terms of "product liability" but would be covered under the terms of "completed operations".



For instance, there have been a number of recent outbreaks of salmonella, hepatitis, and E. coli infections due to contaminated fruits and vegetables and lettuce used in the salads served to customers. As the restaurant owner, your use of contaminated produce exposes you to the risk of being sued by the customer who becomes sick -- even if you were unaware of the contamination. You could, in turn, sue the produce supplier for furnishing the contaminated food.



Your customer's damages would be paid for under your restaurant's "completed operations" coverage, while your damages would be payable under the supplier's "product liability" coverage.



Hope this helps.



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PostPosted: Thu Jun 26, 2014 10:02 am   Post subject:   

Product liability insurance protects the business from claims related to the manufacture or sale of products, food, medicines or other goods to the public. It covers the manufacturer's or seller's liability for losses.

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PostPosted: Thu Jun 26, 2014 3:12 pm   Post subject:   

Again, perfectly copied from another source not your own thoughts. Criminal.



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PostPosted: Thu Aug 14, 2014 10:44 am   Post subject:   

Product liability insurance protects the business from claims related to the manufacture or sale of products, food, medicines or other goods to the public. It covers the manufacturer's or seller's liability for losses or injuries to a buyer, user or bystander caused by a defect or malfunction of the product, and, in some instances, a defective design or a failure to warn.

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PostPosted: Thu Aug 14, 2014 2:34 pm   Post subject:   

The above post was stolen from http://businessinsure.about.com/od/liabilityinsurance/a/prodliains.htm



It is not the original thought of "hanrahan"



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PostPosted: Fri Sep 12, 2014 7:34 am   Post subject:   

The product liability service helps to protect business against claims. It protects the business financially against claims and product defect.



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PostPosted: Thu Nov 20, 2014 7:15 am   Post subject:   

Product liability insurance protects your business by different claims related to the manufacture or sale of products, food, medicines or other goods to the public. When it is part of a commercial general liability policy, the coverage is sometimes called products-completed operations insurance.

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PostPosted: Sat Nov 22, 2014 5:35 am   Post subject:   

Product liability is the law in which manufacturers, suppliers, distributors, stores, and others who make products and solutions available to the consumer are held responsible for the injuries those products result in. It covers

Available limits of up to $50 million

Primary product/completed operations liability insurance, including premises operations.

Stand-alone, primary, lead umbrella and excess coverage, including follow-form excess liability etc.



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PostPosted: Thu Dec 11, 2014 11:54 am   Post subject:   

yes you are right, you have given a good information about Product liability insurance.

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PostPosted: Mon Dec 15, 2014 10:47 pm   Post subject: What Is a Product Liability Insurance Policy?  

If you ever have any questions regarding insurance coverages or what your business insurance needs are, we always recommend contacting a licensed insurance broker. Each and every business has many different needs and risks with regards to insurance and coverage to make sure they are properly covered. Discussing your business with a local insurance broker is your best way to find out if your business is properly covered and that you have the very best price for your commercial insurance policies. Your correct, general liability insurance policies is the most common commercial insurance policy and is recommended for every business. General liability insurance will cover your business from the risks of liabilities imposed by lawsuits and claims. Thus, it will protect the insured in the event they are sued for claims that come within the coverage of the commercial general liability insurance policy.



Product liability insurance is there to protect your business from claims related to the manufacture or sale of products, food, medicines or other goods to the public. There are many circumstances where a product you sell or manufacture causes harm to others and this insurance coverage will help protect against these potential lawsuits. A product liability insurance policy will also cover the manufacturer’s or seller’s liability for losses or injuries to a buyer, user or bystander caused by the defect or malfunction of the product. This can even come into play with regards to a failure to warn of the products effects or defectiveness in the actual product. The main claims made with regards to this type of coverage are a manufacturing or production flaw, design defect and defective warnings or instructions. In many cases, lawsuits arising from these types of claims can be in the millions depending of severity. There are also many other situations and circumstances that your business may be at risk for and talking with a local licensed insurance broker at Smart Move Insurance is the best way to make sure your business is properly covered.

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PostPosted: Thu Mar 05, 2015 9:45 am   Post subject: Product liability insurance policy  

Product liability insurance policy is nothing but just to help in your financial condition or provide security you need for producing useful and valuable products for customers.

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PostPosted: Fri Mar 06, 2015 2:42 am   Post subject:   

Written like a true non-native English speaker. And it's wrong, too.



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PostPosted: Wed Jul 29, 2015 8:07 am   Post subject:   

Product liability insurance covers the cost of compensating anyone who is injured by a product that your business made, designed or supplied where the injury can be shown to be a result of a fault in that product.



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