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

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