Product Liability insurance is designed to protect you against third party claims for damage or personal injury as a result of a product you have manufactured or supplied. It is an important way of protecting you against potentially costly litigation claims.
It is important to remember that when it comes to Product Liability, you don’t actually have to have manufactured the product itself to be liable. Simply commissioning an item which bears your brand name, or selling a product in a shop or even online means you could be liable as the supplier of the item. Indeed, the courts can also rule in favour of the claimant against you if you have repaired or reconditioned a product, even in you weren’t the person who first sold or supplied it to the claimant. Insurance can be complicated, so when it comes to ensuring that you and your business are protected, there is no better reassurance than seeking expert advice.
You should consider Public Liability insurance if you are supplying your goods or services to the public from a premises, and that includes your home if you are a homeworker and your customers visit you there.
Compensation payments, legal fees and the associated costs of any action against you can be extremely punitive without the right insurance in place to cover you. Public Liability insurance can protect you in the event that a customer or visitor to your premises suffers an injury or loss as a result of your business activities, and is often a prerequisite for working with public bodies such as local authorities and education providers.
Having Public Liability can also protect you when you carry out business activities away from your office premises by extending your public liability. You can find out more about the public and product liability cover available for you and your business by calling our business insurance team.