Product liability insurance provides critical protection against claims of personal injury or property damage caused by products your business sells or supplies. This insurance covers ensuing liabilities and related court costs.
Key Industries Needing Product Liability Insurance
- Manufacturers
- Car hire companies
- Mechanics
- Builders and labourers
- Businesses dealing in physical products
Areas Covered
- Damage to client property during visits or use of your products
- Injuries or losses within your premises due to negligence
- Accidents involving clients and associates related to your products or services
Importance and Considerations
Businesses have a duty of care regarding the safety and suitability of their products. Product liability insurance should cover legal defense costs and potential compensation. Given the evolving nature of product liability law, regular audits by specialists are recommended for adequate coverage.
For further details on product liability insurance tailored to your business needs, contact Sydney Insurance Brokers.