Product Liability Insurance

We offer product liability insurance to manufacturers, wholesalers, distributors and retailers from various insurance companies. Product liability insurance is designed to provide protection against claims that a product caused bodily injury to someone or property damage to someone's property. The products and completed operations liability coverage is available as a standalone policy or as part of a commercial general liability insurance policy. A standalone policy is often purchased when limits higher than those available under a commercial general liability insurance policy are needed and can provide excess coverage over a commercial general liability insurance policy.

Who should purchase product liability insurance?

Any person or entity involved in the manufacturing, distribution or selling of a product is subject to a product liability claim. This is because they all face the possibility of being sued should one of the products that they manufactured, sold, handled or distributed ends up causing bodily injury or property damage to third parties.

What coverage is provided by product liability insurance?

Generally, the products and completed operations coverage is designed to provide liability coverage against bodily injury and property damage suffered by third parties arising out of products and completed operations. The coverage usually applies to the named insured and its employees, and if the named insured is an organization, to its owners, executives, partners, and directors.

Bodily injury usually includes injury to one's body, sickness, disease and death. Property damage usually includes physical injury to or destruction of tangible property including loss of use.

What are some examples of product liability claims?

Product liability claims can come in many shapes, including the following:

Due to the legal uncertainties surrounding products, it is important for manufacturers, wholesalers, distributors and retailers to have product liability insurance in place with an adequate policy limit.

What's the difference between an occurrence and a claims made policy?

Standalone product liability and commercial general liability insurance policies are available on both an occurrence and a claims made basis.

An occurrence policy covers claims incurred during the policy period, even if the claim is reported after the policy expires. Occurrence policies are widely used in other lines such as automobile and homeowners insurance.

A claims made policy covers claims reported during the policy period, as long as the claim was incurred after the retroactive date. The retroactive date is usually set as the first day of coverage of the first claims made policy ever purchased and should not be changed at policy renewal. The policy must be renewed every year in order to keep the coverage for prior acts. However, if the claims made policy is nor renewed and a claim is subsequently reported, no coverage will be available even if the claim was incurred while a policy was in effect. To remedy this situation, a tail endorsement is available to be purchased.

Give us a call to discuss your product liability insurance needs.

We operate in the following states: Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Tennessee, Texas, Utah, Vermont, Washington, Wisconsin, Wyoming