Product Liability Insurance

Protects against claims of injury or damage from your products.

Product liability insurance is designed to protect businesses from financial losses due to claims or lawsuits that arise from issues with their products. If a product causes harm, injury, or damage to a person or property, this insurance helps cover the associated legal fees, medical bills, and compensation.

In India, businesses that manufacture, distribute, or sell products are at risk of facing legal claims if their products cause injury or damage. As consumer awareness grows, any flaw in a product's design, manufacturing, or labelling can lead to expensive legal battles. This is especially critical in industries such as electronics, food and beverages, pharmaceuticals, and consumer goods, where the stakes are high. Without proper protection, these legal claims can lead to significant financial strain, potentially threatening the survival of the business.

Product liability insurance provides crucial protection for businesses against such risks. It covers the costs associated with legal defense, settlements, and compensation in cases where products are found to be defective. By securing this liability insurance, businesses can safeguard their financial health and continue operations without the threat of unexpected legal expenses. Additionally, having product liability insurance can enhance customer confidence, as it demonstrates a commitment to addressing any issues that may arise with their products.

• Protects from injury claims
  Shields against claims alleging bodily harm caused by your products.
• Defends against lawsuits
  Covers legal expenses if sued over product defects or failures.
• Safeguards your reputation
  Ensures prompt resolution of issues, preserving trust and brand image.
• Secures your finances
  Covers settlements and judgments, preventing financial strain or bankruptcy.
• Mitigates Recall Expenses
  Covers the costs associated with product recalls, including notification, shipping, and disposal.

Product injury
This Product Liability Insurance coverage extends to attorney fees, settlements, and court judgments, addressing issues such as design flaws, manufacturing defects, inadequate warnings, and injuries caused by product use.

Product-related property damage
Product Liability Insurance shields your business if a product you sell or manufacture causes damage to a customer's property, whether from defects or errors in the instruction manual.

Product-related illness
Product Liability Insurance provides coverage for illnesses resulting from products sold or manufactured by your business, such as expired food or allergenic beauty products.

Products causing wrongful death
Product Liability Insurance addresses lawsuits, burial expenses, and other costs associated with customer death resulting from your product.

Legal representation costs
This includes covering costs for providing documentation or information to investigators regarding product-related issues.

Public relations costs
It reimburses expenses incurred in managing and mitigating negative company reputation stemming from product-related allegations.

Court attendance costs
Product Liability Insurance provides coverage for reasonable costs and expenses associated with attending court proceedings, hearings, trials, and depositions related to defending product-related claims.

Crisis communication costs
Product Liability Insurance covers costs for hiring public relations or crisis management firms to advise on public communication strategies related to product claims, lawsuits, or allegations.

• Product guarantee
  Product Insurance coverage does not apply if the policyholder explicitly warrants or guarantees product performance or quality to customers. Claims resulting from product failures due to unmet standards are not covered.
• Repairing/Refurbishing costs
  If the insured's product harms someone or damages property due to a defect, the policy may cover compensation costs. However, Product Insurance generally excludes repair or refurbishment expenses for the defective product itself.
• Financial losses from loss of market share/goodwill
  This exclusion applies to losses resulting from decreased market share or goodwill due to product harm, as they are considered indirect damages not covered by the policy.
• Willful manufacturing/distributing of defective/dangerous products
  Product Liability Insurance policy does not cover losses resulting from willful or intentional misconduct by the insured, including claims for bodily injury, property damage, or harm caused by defective products.
• Injuries sustained while manufacturing the product
  Product Liability Insurance policy excludes coverage for injuries sustained by insured employees during product manufacturing, as these are typically covered under workers' compensation insurance policies.
• Technology product claims
  Product Liability Insurance policy excludes losses related to technology products, including intellectual property claims or performance failures, due to their complexity and reliance on advanced technologies.