Product Liability Insurance
Business is an inherently risky proposition, as a manufacturer/trader you can fall victim to complicated and expensive law suits due to a possibility that your product could cause damage to a third party. This policy covers claims, which the insured becomes legally liable to pay to third parties as a result of bodily injury or property damage arising out of the use or consumption of products manufactured, sold and /or distributed by the Insured.
- Vendor’s Liability Extension
- Cover for exports when domestic turnover is also covered.
- Technical Collaborators Liability Extension
- Coverage for defense cost incurred with prior consent
- Benefit of Retroactive Date
- Tata AIG General Insurance Company Limited brings to you one of the most extensive worldwide network , with presence in more than 130 jurisdictions.
- Costs arising out of recall of any product
- Deliberate, willful or intentional non-compliance of any statutory provision.
- Arising out of pure financial loss
- Arising out of fines, penalties, punitive and/or exemplary damages
NOTE: Please refer policy wordings for detailed coverage, exclusions and conditions