PRODUCTS LIABILITY; PRODUCTS INEFFICACY AND RECALL LIABILITY INSURANCE

 

LIABILITY INSURANCE – What does it all mean?

 

Yourinsurance Brokers has a commitment to providing innovative and comprehensive Product Liability, Inefficacy & Recall cover via our associates in the Specialist Liability fields, so that whatever happens to your products, you can take the necessary steps quickly, safely and in the knowledge that there are no gaps in your cover. The average car has around 5000 components. A fault in just one of them can be enough to demand the recall of a whole shipment. For the manufacturer that means lost time and considerable expense. We understand the manufacturing process and the rapidly changing demands of Product Safety legislation and our industry expertise means that we can even arrange Professional Indemnity Cover.We can obtain cover for you against the cost of removing products, known or suspected to be hazardous from the marketplace, as well as the cost of replacing or making good the defective product.Professional Indemnity policies are also available for product manufacturers and suppliers, tailored to cover the financial loss exposures resulting from:

 

•  Design, formulation or specification of a product

•  The advice and design services provided in connection with the supply of

   a product

•  The insured party’s business for advice carried out for a fee