What is the Definition of Product Liability Insurance?

What is the Definition of Product Liability Insurance?

Protects manufacturers’ and distributors’ exposure to lawsuits by people who have sustained bodily injury or property damage through the use of the product.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Product Liability Insurance?

You can find random definition and meaning of insurance terms below:


What is the meaning of Named insured

The person or entity specifically identified as the named insured in an insurance policy. This person is also referred to as the policyholder.


What is the meaning of Named non-owner coverage/policy (NNO)

Written for someone who does not own a private passenger or commercial automobile, but would otherwise meet the qualifications for an auto policy with Nationwide. Situations may include employer-furnished vehicles, borrowing cars from friends or relatives, or frequent use of rental cars.


What is the meaning of Named perils

Covered hazards that are listed in an insurance policy. Also known as specified or named perils.


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