Product liability insurance intends to protect the insurance taker against the risks of product liability. Product liability refers to the legal concept that consumers have to be compensated for injuries and damages caused by a defect in a product.
Product liability insurance will ensure the compensation of consumers in case of damage caused by a defect in your product(s). Although there are no laws or regulations that allow companies to take product liability insurance, from a business perspective it makes a lot of sense. Being ordered to pay compensation for damages can be a high risk for the continuity of your business.
Please contact us if you need help finding product liability insurance.