Products Liability Insurance

We provide Products Liability Insurance for small and large companies across many sectors including construction, manufacturing, engineering, retail, distribution, technology and motor trade.

Our current clients include sole traders and large firms with hundreds of employees.

We get the best quotes because we work with more than 40 specialist insurers across Ireland, UK & Europe. We also have a team of qualified and experienced professionals as well as dedicated claims handlers.

What is Products Liability Insurance?

Every business that produces a product has a legal obligation (duty of care) to ensure that their products do not to cause injury to any third party or damage to third party property.

If there is a defect in a product supplied by your business that causes injury to a third party or damage their property, a Products Liability Insurance policy will pay the compensation costs subject to the policy terms and conditions. In the event that you believe you have been wrongly accused, then Products Liability Insurance will pay the costs of a legal defence as well as any compensation which may be awarded against you in a court.

Always subject to the policy terms and conditions.

Examples of Products Liability Claims

A contractor installs a new roof on a supermarket which subsequently leaks causing damage to stock and also business interruption losses. The stock and business interruption losses are covered but not the rectification of the problem with the roof. Fixing the defect in the product supplied itself is not covered by Product Liability Insurance.

A bakery supplies cakes which are later found to have small particles of glass in them. Customers who consumed the cakes bring claims against the bakery for their injuries.

An electrical shop supplies a cooker which goes on fire overnight burning a house to the ground. The home owned brings a products liability claim against the shop.

Why purchase Products Liability Insurance?

The risks of supplying products can be significant. Products Liability claims can often run to hundreds of thousands or even millions of euros especially where a batch of products was defective. In the absence of Product Liability Insurance you or your business would be required to fund all of the legal and compensation costs yourself.

Insurance provides protection both in terms of paying claims and providing access to the best legal defence available.

SPEAK TO AN EXPERT

Éanna O’Connell
Certified Insurance Practitioner
T: 0494327219
E: eanna.oconnell@mib.ie