What kind of insurance do you need?

Product Liability Insurance

Whether you are importing or manufacturing your own product, product liability is critical insurance protection for your business Рget a free quote now!

Liability

Product liability protection.

Product manufacturers and importers often will need a stand-alone Product Liability Insurance plan that is focused on their added risks from the products being sold. One of the keys to success as a manufacturer can be their vendor relationships with their distributors. Providing product liability insurance with specific attributes will be needed for those relationships.

Manufacturers are typically offered the more restrictive “Claims Made” General Liability form. A “Claims Made” means the policy has a limited reporting period for claims to be made. Some important terminology is needed to understand this different type of liability policy having to do with the mechanics of the reporting period.

  • A “Retroactive Date” is start of continuous coverage.
  • The “Reporting Period”, normally the policy term plus 60 days, is the time period which claims must be presented.
  • “Tail Coverage” (also known as “Extended Reporting Period”) is the purchase of additional duration for a claim to be reported.