It is the policy or legal scheme in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause. As a manufacturer supplying products, you are always susceptible to the possibility that your product could cause damage to a third party – either property or a person. The product may have a manufacturing defect or even due to faulty packaging, delivery specifications or instructions as to use of the product. The Product Liability insurance for manufacturers is the ideal solution for such financial losses. Vendors/ Sellers Liability Insurance policy covers cost of compensating anyone who is injured by a faulty product that your business designs, manufactures or supplies
Product liability insurance protects against claims of personal injury or property damage caused by products sold or supplied through your business. It is designed to help protect your business by ensuring that if this happens, you don’t have to pay any legal or court costs.