product liability insurance
WHAT IS PRODUCT LIABILITY INSURANCE ?
Liability cover for the manufacture, supply, retail or repair of products will be an important consideration for many businesses. In the event that your business provides a product that is defective or faulty and a loss or injury is caused as a result of that product, then a claim may be made for compensation. Product liability insurance also covers the
related legal fees, costs and expenses including any NHS treatment.
Liability can arise under:
Common law eg. Negligence
The Unfair Contract Terms Act
The Consumer Protection Act
Sale and Supply of Goods Act
Contract Law "goods will be safe & free from defect"
Claims that arise from product liability are not included as standard in public liability policies but can generally be added to a public liability policy in the form of an additional 'product liability section'.
WHO NEEDS PRODUCT LIABILITY INSURANCE ?
Although your business may not have manufactured the product you may still be liable for loss relating to the product even if you just sell the product. In product liability cases the courts will look to find the chain of events from raw materials to manufacture to supply in order to find the source of the liability. Where this is found or where a break in the chain occurs (e.g. The product came from overseas) the liability can be found.
The following types of businesses should consider product liability insurance :
Any product manufacturer
Any business that supplies products
Any business that repairs or modifies products
Any business that imports products from outside of the
European Union
Any business or person putting their name, brand or
mark against a product
HOW IS PRODUCT LIABILITY INSURANCE WORKED OUT ?
Product liability insurance will be assessed by your insurance broker and quotes will be provided through insurers based upon the following criteria :
volume of products supplied
quality control measures taken in manufacture
origin of product manufacture
type of product and product market
your claims history
PRODUCT LIABILITY COVER FROM CARVEL
Carvel only deals with commercial insurance, here are the business benefits to you :
Highly competitive quotes
Bespoke cover or policies for 'Standard Products'
Rapid turnarounds on proposals, quotations and paperwork
Options to make further savings by combining all liability
cover in one policy
Assistance with risk assessments and risk action plans if
required
For more detail see 4 reasons Carvel stands out
Product Liability Insurance for Small Business, Limited Companies or Multi-million Pound Turnover.
Complex Risks Insurance ~ Property Investors Insurance ~ Directors & Officers Insurance ~ Commercial Liability Insurance
Business & Employee Travel Insurance ~ Office Insurance ~ Pub Insurance ~ Guest House Insurance ~ B&B Insurance Business Insurance Advice ~ Engineering Insurance ~ Professional Indemnity Insurance ~ Fleet Motor Insurance ~ Taxi Insurance ~ Hotel Insurance ~ Private Client Insurance ~ Landlords Insurance ~ Property Owners Insurance ~ Restaurant Insurance ~ Employers Liability Insurance ~ Public Liability Insurance ~ Product Liability Insurance ~ Commercial Property Insurance ~ Shop Insurance ~ Contractors Insurance ~ Tradesman Insurance ~ Courier Insurance ~ Retail Insurance ~ Haulier Insurance
High Net Worth Insurance ~ Commercial Insurance Cover ~ Commercial Motor Insurance
A single phone call and you can access our entire range of policies to provide instant business insurance.
Connect with Carvel, call us now on 08458 733 133
Carvel Insurance Brokers is a trading style of Bowlin Insurance Consultants Ltd who are
Authorised and Regulated by the Financial Services Authority, FSA Registered Firm No 306703
Product Liability Insurance London & Peterborough
Carvel Insurance Brokers ~ 1 Poultry ~ London ~ EC2R 8JR
