Product Liability Insurance
/ˈprɒd.ʌkt laɪˈæbɪlɪti ɪnˈʃʊərəns/
Definitions
- (n.) Insurance coverage protecting manufacturers, distributors, and sellers against claims of injury or damage caused by defective products.
The company increased its product liability insurance to cover potential lawsuits arising from consumer injuries.
Forms
- product liability insurance
Related terms
See also
Commentary
Typically tailored to cover various risks, this insurance helps mitigate financial exposure from claims related to defective or dangerous products.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.