Product liability insurance protects the business from claims related to the manufacture or sale of products, food, medicines or other goods to the public. It covers the manufacturer's or seller's liability for losses or injuries to a buyer, user or bystander caused by a defect or malfunction of the product, and, in some instances, a defective design or a failure to warn. When it is part of a commercial general liability policy, the coverage is sometimes called products-completed operations insurance.
To understand the need for this coverage it is critical to understand the potential liability. There are generally three types of products "claims" a company may face:
Product liability insurance
Established in 1936, by Thomas J. Unik Sr., our company has grown to a full service insurance agency that serves the insurance needs of over 12,000 individuals and families and 4200 business concerns in Cleveland, Cuyahoga County and adjacent areas.