Is your cover in the can?
New legislation and nervous retailers means product recalls are increasingly common, but standard product liability insurance fails to provide adequate cover. Simon Threadgold suggests this is an area to modify.
As a class, liability has caused insurers big problems. Productliability is no exception. Claims have escalated due to the ever-widening
duties placed on manufacturers. Customers are increasingly determined to
press for compensation if products cause injury or damage. And product
recalls have become commonplace, whenever there is the slightest risk from
using the product.
Previously, the geographical limits under product liability policies were
restricted to the UK or Europe. Today, worldwide
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