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Product Liability

Product Liability

Product Liability Insurance guarantees the compensation that you may be legally required to pay due to a defective product.

Products Liability insurance works as a complement to Exploitation Liability insurance in that it guarantees the products manufactured by the company after their delivery, that is, from the moment the product is put on the market.

This is an insurance policy regulated by law, with a specific regime applicable to all European Union countries. 

Covers

In addition to the damage caused to third parties by defective products, by prior and express agreement with the insurer, the Products Liability insurance may also guarantee:

  • Material damage that is caused by products produced by the insured, to products of another producer by union or mixture with such products, or elaborated with the intervention of the products of the insured.
  • Material damage caused to another producer's products manufactured by processing the product of the insured may also be covered.
  • Material damage caused to other producers as a result of repackaging, transvailing or repackaging operations due to a defect in the container, packaging, stopper or similar product manufactured and/or supplied by the insured party may also be covered, as well as expenses incurred by the insured party or by third parties in relation to the repair or loss of use of the defective products.
  • Costs incurred by the Company with the withdrawal of products (it will be necessary to have a product withdrawal plan for assessment by the Insurer)

The information contained in this website is merely indicative. The rights and obligations of the parties are defined in the Proposals, Conditions Special and General applicable terms of the respective insurance policies contracted.