Product Liability Insurance

Public and product liability insurance protects businesses from claims of any loss, injury, or illness caused by their products. Products liability coverage is a policy usually added as a part of general liability insurance, but can be bought separately as well. The coverages available in this policy are: 1. Faulty product 2. Usage failure 3. Design defect 4. False/misleading marketing 5. False/misleading labels 6. Failure to warn 7. Product information omissions The policy also has some exclusions like any other insurance: 1. Efficacy exclusions 2. Cost of product recalls 3. Lost inventory 4. Quality control exclusion 5. Reporting exclusions 6. Material exclusions 7. Employee injury exclusions 8. Vendor’s endorsement The cost of product liability insurance depends on various factors like: 1. Business/Product Type 2. Position in the supply chain 3. Size of the company 4. Number of products 5. Quality control procedures 6. Loss control procedures 7. Claim history To learn more about product liability insurance, follow this link: https://quotezebra.com/product-liability-insurance/

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