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    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.

     

    Key Features

     

    • 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.

     

    Key Exclusions

     

    • 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

     

    UIN: IRDAN108P0017V01200102

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