Product Liability Insurance protects manufacturers, distributors, suppliers, retailers, and others against legal liability arising from defective products that cause bodily injury or property damage to third parties.

Common causes of product liability claims include:

• Design defects: Products that are inherently unsafe or fail to meet ordinary consumer safety expectations, where the risks outweigh the benefits.

• Manufacturing defects: Errors in the production process, often due to poor-quality materials or substandard workmanship.

• Marketing defects: Mislabeling, inadequate safety warnings, or insufficient usage instructions.

The coverage can also be extended to include:

• Product Recall: Covers costs related to the recall, removal, recovery, or disposal of products whose continued use may cause injury or property damage.

• Products Guarantee: Covers the cost of removal, repair, or replacement of a product or its parts when it fails to perform its intended function and may result in liability.

• Financial Loss: Covers financial losses suffered by third parties due to product failure, particularly when a recall is required to prevent further liability.

At Securisk Insurance Broking Pvt. Ltd., our expert team leverages deep industry knowledge and experience to provide customized policies with add-ons, ensuring comprehensive protection against financial losses arising from product-related risks.