Product Liability Insurance
Understanding Product Liability Insurance
Product Liability Insurance protects companies or an organization from what they offer or produce, which may have caused any damage to its users/consumers/patron or their properties. In general, it is a protection the owner can benefit from if any claims are related to the sale or manufacture of goods, foods, products or medicines to the public. It will cover the seller or manufacturer’s liability for injuries or losses caused for different reasons such as product malfunction, failure to warn or defective design.
Product Liability Insurance that may be covered:
- Possible fees which may arise from litigation
- Fees which occur from the state court system
- Personal injuries or property damages caused by faulty goods
- Unexpected circumstances that occur such as product malfunction where the quality control system of the company failed to identify.
Who Requires Liability Insurance?
Any organization or individual engaged in selling or manufacturing products. Typically, people who would want to purchase this kind of coverage are coffee shops, toy retailers/manufacturers, food distributors, clothing retailers and manufacturers, sporting good product manufacturers and other businesses where operations involve their consumers utilizing products that are branded with the company’s name.
How Insurance Brokers of Maryland can help
At Insurance Brokers of Maryland, we work hard and offer only the best coverage that works for a variety of different types of risks. We develop a highly comprehensive insurance policy that complies with the Safety Act, which in many jurisdictions is required by law. When you are ready to see the full-scale of protection that Liability Insurance coverage for your business can offer, give us a call. Our friendly and highly knowledgeable representatives will discuss how you can obtain the right protection against financial loss that arises from legal liability incurred when using your products. Contact us today; we’re here to help you!
BUSINESS INSURANCE POLICY EXPERTISE
Builders Risk Insurance
When building a building, make sure that you’re protecting more than the people and the property, but the actual building itself while it is in the construction phase.
Business Owners Package Insurance
The full suite of necessary business insurance lines can be conveniently handled in a single BOP package, protecting the liability of your company’s property and vehicles.
Business Interruption Insurance
If a loss from theft, storm, accident or vandalism of property causes your business to be out of commission, threatening your business’s livelihood, you’ll be glad you have interruption protection.
Commercial Auto Insurance
Cover each of your company’s cars just like you would cover your own, and protect against risk to one of your company’s major investments.
Commercial Trucking Insurance
Taking goods from one place to another requires mitigating the risks to both the goods and the trucks hauling them.
Commercial Umbrella Insurance
Beyond what a standard business liability policy offers, an umbrella policy grants you even more protection for a true peace-of-mind feeling.
Contractor’s General Liability Insurance
Contractors, builders, construction managers, design/build professionals and owners of construction projects, whether public or private, commercial or residential, are all in need of general liability protection if something were to happen to persons or property.
Employment Practices Liability Insurance
If any of your employees sues your company as a result of your company’s business conduct, you are protected by this pragmatic form of insurance.
General Liability Insurance
Since anything can happen (and it usually does), a policy which pays in the event of a wide variety of occurrences is an absolute imperative for your business.
Hotel / Motel Insurance
As a hotelier, you encounter issues and possibilities unseen in any other industry – so you need a policy providing unique coverages to match.
Liquor Liability Insurance
Alcohol can lead directly to accidents, and if you supply, sell or make the alcohol in question, you could be liable for those accidents.
Medical Malpractice Insurance
Despite the best intentions, sometimes doctors and other medical professionals get sued by their patients – so having adequate malpractice protection is indispensable.
Product Liability Insurance
If a product is made or sold by your company and it causes harm to another’s property or person, the value of this insurance line is made clear.
Restaurant & Bar Insurance
The food service industry is tough enough, with the kinds of problems rare if ever seen in any other industry. Appropriately tailored insurance is a must for any restauranteur.
Special Event Insurance
Hosting a party, a concert, a convention? A special event implies special needs that can only be protected by this form of insurance.
Surety Bonds
Guarantee that a contract is executed on time and in the agreed-upon manner with a bond intended to secure the contract.
Technology Insurance
Meant for companies that deal in technology, this insurance helps you recoup losses which affect your ability to deal in that technology.
Wholesalers and Distributors Insurance
For companies in the business of wholesaling and distributing goods, a set of challenges particular to your industry means a type of insurance designed for you.
Workers’ Compensation Insurance
Replace the wages of your employees injured on the job while providing them with invaluable funds toward medical expenses.
Defense Base Act Insurance
DBA Insurance is a type of Workers’ Compensation insurance to protect employees, employers, independent contractors and others from damages due to injury, accidents, etc. on the job.
Insurance for Governmental Subdivisions
There’s much to be analyzed when considering a municipality’s insurance needs. Are there special events to be covered? Does the municipality make use of volunteers? How could your school board or your water authority be held liable?
Insurance for Non-Profits
Protect your Non-Profit organization from unexpected liabilities.
Insurance for Social Services
A social services organization has similar risk-mitigation and protection requirements as any other business entity, but more of them.
