Public & Products Liability provides cover for claims by third parties alleging personal injury or property damage caused by your business or products. Cover includes both defence costs as well as any damages awarded.
Important Points to Note
It is important to be mindful of the ‘trigger’ for cover; there must be personal injury or property damage to a third party. So if you have a customer who is simply unhappy with the quality of your product or workmanship and you have to replace the product or re-do the work, your Public & Products Liability policy will not respond.
Similarly, a standard Public and Products Liability policy will not respond to claims arising purely out of financial loss
Whilst there are variations between different policies, major exclusions in most Public & Products Liability policies include, but are not limited to:
- Products being manufactured, sold or used in aircraft or watercraft
- Products being exported to North America
- Product Recall expenses – learn more about insuring Product Recall expenses here
- Costs arising from your rectification of faulty workmanship or replacement of faulty materials
- Claims arising from the provision of professional services, including errors or omissions in design, formula and specifications
- Claims brought against you by employees
- Contractual Liability (this is liability you have accepted in a contract that wouldn’t have existed in absence of such contract) – learn more about Contractual Liability here