What Is Product Liability Insurance?

Product liability insurance is a type of insurance that provides coverage for claims made against a business for injuries or damages caused by their products. This insurance can help cover the cost of legal fees, settlements, and other associated costs.

Here are some examples of why a business may need product liability insurance:

• Manufacturing defects: If a business manufactures a product with a defect that causes injury or damage, product liability insurance can help cover the cost of legal fees and settlements.
• Design defects: If a business designs a product with a defect that causes injury or damage, product liability insurance can help cover the cost of legal fees and settlements.
• Labelling and packaging issues: If a business fails to provide proper Labelling or packaging for their products, causing injury or damage, product liability insurance can help cover the cost of legal fees and settlements.
• Product recalls: If a business needs to recall a product due to safety concerns, product liability insurance can help cover the cost of the recall and associated expenses.
• Product misuse: If a customer misuses a product and is injured or causes damage, product liability insurance can help cover the cost of legal fees and settlements.

Overall, product liability insurance is important for businesses that manufacture, distribute, or sell products to protect themselves from financial losses due to claims made against them for injuries or damages caused by their products. Without this insurance, a business may be at risk of significant financial losses due to lawsuits and other legal proceedings related to their products. Armour’s brokers can help you find the best coverage at the best price.