LIABILITY
Products Liability Insurance
Protection for liability arising from products you manufacture, import, distribute, supply, sell, repair, alter or install.
OVERVIEW
The product itself changes the risk
Products Liability Insurance addresses claims where a product supplied by the business causes injury or property damage. It is particularly relevant to manufacturers, wholesalers, retailers, importers, distributors and businesses that install, repair or alter products.
The exposure is not determined by turnover alone. The product, its end use and the business’s position in the supply chain can materially change how an insurer views the risk.
Public and Products Liability are often arranged together, but the underwriting exposures remain distinct.
WHAT MATTERS
Know what you sell, where it goes and what it is used for
Insurers commonly examine product type, end use, imports, exports, USA or Canada exposure, safety-critical applications, food and drink, children’s products, medical products, component parts and previous claims.
Businesses importing goods can carry a different exposure from a business simply reselling locally manufactured products. Product recall is also a separate exposure and should not be assumed to be included within ordinary Products Liability cover.
Understand more. Or begin.
Read the Products Liability guide, or start your proposal and describe the products and supply chain.
Australian insurance context
For Australian organisations, Products Liability Insurance should be considered against the actual activities, location, scale, contracts, assets and risk controls of the business. Insurance requirements and insurer appetite can vary by state or territory and by the way the risk is presented.
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