Product Liability Insurance
Avoids domestic or international claims for damages caused by defective products:
What does it cover?
- Damages to third parties for products sold, supplied, or for work performed
- Damage caused by products sold by the manufacturer to third parties or by joining mixtures
- Expenses caused by recalls of contaminated or defective products
- The cost of destroying contaminated or defective products
What coverage policies can I take out?
- Liability for products marketed and/or manufactured in Mexico
- Liability for export to the countries declared by the insured
- Recall of defective product
- Liability for activities and properties
This policy provides adequate professional coverage for:
- Manufacturer/importer of a product in the market
- Raw material producer
- A person applying an industrial process
- Person using his/her name or brand on a product
- Supplier of a product with unknown producer
Benefits:
- 1.- Covers damages caused by using or consuming a defective product
- 2.- Covers economic loss due to repair of the product
- 3.- Covers the economic loss due to product design defect
- 4.- Rebuilds the defective product in order to put it back on the market
- 5.- Restores the image of the brand
- 6.- Legal defense
