Product Liability

Product liability insurance protects a company against claims or suits arising from the company’s products, whether they were made by the company or sold by them. This form of insurance covers a manufacturer’s or seller’s liability for bodily injury or property damage sustained by a third party due to a product’s defect or malfunction. The product may be virtually any type of good sold to businesses or the public, like machines, food, medicines, and clothing. The injured third party may be a buyer or user of the product or even a bystander.