Product Liability insurance
The policy is suitable for all industries where the need for compensation on account of defective product may arise.
The policy pays for damages that the insured is legally liable to pay in consequence of accidental death/injury or disease to third parties including damage to third party property due to any defect in the products manufactured. Exports to other countries can also be covered provided domestic sales are also covered.
All costs, fees and expenses incurred in investigation, defense and settlement of claim made against the insured, cost of representation at any inquiry or other proceedings in respect of matters having direct relevance to the claim made against the insured are covered by the policy subject to the overall limits stated in the policy.