Product liability insurance protects your company against claims or lawsuits related to injury or property damage arising from defective products produced, distributed, or sold by your company. With 11 years experience in the industry, an array of market options, broad product liability appetite, and a vast knowledge of product liability exposures, we're confident in finding you the best coverage solutions & price available
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Additional Markets Include: Admiral, Ameritrust, Atlantic Casualty, Golden Bear, Hartford, Kinsale Insurance, MESA Underwriters, Scottsdale Insurance, SHG, Starr Indemnity
Product liability coverage protects against personal injury and/or property damage losses arising out of product(s) sold, manufactured or distributed through your business. Product liability insurance may also provide coverage for claims arising from damages due to providing inadequate instruction for use of the product or a failure to warn on your product label.
Defective or dangerous products are the source of thousands of injuries every year in the U.S. alone. Responsibility for a product defect that causes injury may affect all sellers of the product who are in the distribution chain. In addition, under the definition of “Strict Liability,” the person injured by a product may be entitled to compensation for their injuries without showing that the manufacturer or seller of the product was actually negligent.
An Occurrence form policy provides coverage as long as the policy was in force at the time of the covered loss. This means that coverage may exist for claims filed after the product liability policy expires so long as the loss occurred while the policy was in force.
A Claims-made policy form provides coverage for claims that occur, and are reported, within the specific effective/expiration date of the policy. This means that if a policy is canceled, expired, or a premium isn't paid, any claim that comes through will not be covered, even if the incident occurred during the period when the policy was in force.
Claims made policies also carry a Retroactive date which is a provision in the policy language that eliminates coverage for claims made prior to a specified date. So long as concurrent coverage is maintained the set date will remain the same even in the event coverage is moved between various carriers.