Product Liability

This policy can be signed by any producer of goods designated for consumption or used as components in the manufacturing of other goods. The insurance will be of interest also to importers and distributors of goods which they sell on the market.

The insurance provides protection against claims for damages by third parties who suffered injury/harm from the use of the product produced or launched by the insured. The compensation covers damages resulting from bodily injury or death as well as such resulting from damage or destruction of property/item owned by the person affected.

The value of the defective product itself is not covered by the insurance.

In addition to direct damages caused, the policy also covers all legal costs and expenses such as attorney’s fees, legal fees and expert’s fees incurred by the insured when the claim against the insured is filed through court proceedings.

For producers who export their goods in other countries, the insurance coverage can be expanded to include damages incurred abroad.