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Product Liability Insurance

Public liability, general liability and product liability insurance are similar classes of products highly required in Singapore for small, medium business owners.

What is product liability insurance?

Product liability insurance protects your business against lawsuits and claims of damage and injuries from products sold, supplied or manufactured by you. Even the best corporate out there may suffer from

  • product design flaws
  • product manufacturing problems
  • marketing miscommunication

In these cases, product insurance liability will help your business.

Even the best-designed products may face the probability of design defects, manufacturing defects or miscommunication in marketing. Consequently, the retail or wholesaler or manufacturer of these products can be legally obliged to make good on any compensation.

Do I need Product Liability Insurance in Singapore?

If your business sells any sort of product online or in a retail store, then product liability insurance protects you against problems that your products may bring to the consumers.

Some common issues product liability may protect are:

  • products that caused bodily harm,
  • products that caused property damage, or
  • sickness caused by food or beverage.

Product Liability can be offered together under general liability or Public Liability insurance. This will provide cover in the event of lawsuits or damages seek against your business for the products that you sell.