Product Liability
Protection Against Legal & Financial Risks
Product Liability Insurance is essential for manufacturers, distributors, and sellers to protect against the financial consequences of injuries caused by faulty products. Whether due to manufacturing defects, improper packaging, or misuse instructions, this insurance covers claims resulting from product-related damages.
Key Benefits
- Covers medical expenses for injuries caused by defective products.
- Provides legal defense against product-related lawsuits.
- Offers financial protection against settlement costs.
- Ensures business continuity by managing product-related risks.
Health Cover Up
to ₹50 Lacs
What is Product Liability?
Product Liability Insurance is a policy that protects businesses against claims for damages or injuries caused by defective products they design, manufacture, or sell. This insurance covers legal costs, medical expenses, and compensation for victims, helping businesses stay financially secure even when products fail.
Why do you need Product Liability?
Financial Protection
Protects against legal costs and compensation claims.
Legal Compliance
Ensures compliance with safety regulations and avoids penalties.
Consumer Trust
Boosts credibility & consumer trust through safety & responsibility.
Business Continuity
Helps maintain operations and recover from product incidents.
Why choose Insurance Manager to protect your business?
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
What does Product Liability cover and exclude?
Plan Coverage
Accidental Death or Bodily Injury
Covers claims for accidental injury or death caused by the product to third parties.
Accidental Property Damage
Protects against damages to third-party property caused by the product.
Product Defects
Covers defects in the product after it leaves the manufacturer’s premises.
Legal Defense Costs
Covers the legal costs involved in defending against product liability claims.
Manufacturing Defects
Protects against defects occurring during the manufacturing process.
Packaging & Labeling Issues
Covers defects caused by improper packaging or labeling of products.
Faulty Instructions or Usage Guidelines
Covers claims arising from unclear or incorrect product usage instructions.
Product Recall Expenses
Covers the cost of recalling defective products from the market.
- In-patient treatment 24 hours a day
- Pre-existing disease
- Pre and Post hospitalization
- Domiciliary hospitalization expenses
- Reimbursement of cost of health check-up
- All day care procedure
- Family floater to covers member’s immediate family such as a spouse, dependent children, dependent parents, etc.
- Maternity benefits
- Dental treatment
- Cost of spectacles, contact lenses
- Waiver of waiting period
- Waiver of first-year exclusions
- Reimbursement of ambulance costs
- Baby day one care
- Vaccination benefits
- Increased room rent limits
- Corporate buffer
- Out-patient treatment (OPD Card)
- Root canal surgery
- In-hospitalization expenses due to sickness or accidents
- Room and boarding expenses as provided by the hospital/nursing home.
- Nursing expenses.
- Surgeon, anesthetist, medical practitioner, consultants or specialist fees.
- Anesthesia, blood, oxygen, operation theatre charges, surgical appliances, medicines and drugs, diagnostic materials and X-Ray, dialysis or chemotherapy.
Major Exclusions
Product Efficacy Exclusion
Coverage Does Not Include Failures in Product Performance or Effectiveness.
Product Recall Exclusion
Liability Insurance Does Not Cover Costs of Product Recall or Remediation.
Product Guarantee Exclusion
No Coverage for Product Warranties or Guarantees Fulfillment Liability
Pure Financial Loss Exclusion
Product Liability Insurance Does Not Cover Non-Physical Financial Losses.
Terrorism, War, and SRCC Exclusion
Losses Due to Acts of Terrorism, War, or Strikes Are Not Covered Under Liability
Professional Services Deficiency Exclusion
Insurance Does Not Cover Claims Related to Errors in Professional Services Provided.
Fines, Penalties, & Punitive Damages Exclusion
Coverage Does Not Extend to Legal Fines, Penalties, or Punitive Damages.
Personal Injury (Libel or Slander) Exclusion
Claims of Personal Injury, Including Defamation, Are Excluded.
- Treatment of pre-existing illnesses.
- Any treatment for illnesses/diseases within the first 30 days of the policy, unless it is an accident.
- Treatment of specified illnesses for the first year of the policy.
- Certain diseases like hernia, cataract, piles, sinusitis, etc are excluded during the first year of operation in the cover.
- Any claim arising out of or traceable to pregnancy.
- Ayurvedic, homeopathy, naturopathy or any other form of local medication.
- Alcoholism, drug abuse, and AIDS.
- Dental treatment or surgery unless it requires hospitalization.
- Cost of spectacles.
- Vaccination and inoculation.
- Cosmetic treatment.
Your Journey to Insurance Manager
When can I Claim?
A claim under Product Liability Policy can be registered in the below circumstances:
- If a product causes injury to a consumer or damage to their property.
- When there is a manufacturing defect or poor packaging.
- If the product’s usage instructions or delivery specifications are unclear or incorrect.
Claim what’s yours with Insurance Manager
Have more questions?
Submission
Assessment
