Product Liability Insurance

Product liability insurance is a type of business insurance that protects manufacturers, wholesalers and /or retailers against the possibility of a product liability lawsuit. A product liability lawsuit may be filed by a consumer who was hurt by a defective product. Product liability damages can be significant and, without insurance, can create significant financial hardships for product liability defendants. Product liability insurance premiums vary depending on the type of product that is being insured and the expected numbers of consumers who will use the product. Start up businesses may have trouble finding an insurance company who will sell them a product liability insurance policy. Product liability insurance is sometimes known by the acronym PLI.

Fast Facts

  • Average product liability insurance premiums for food products range from $500 to $20,000 per year
  • The average products liability award by a jury is over $1 million.

Product Liability Insurance - Lawyers, Articles and Q&A

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  • Problems with Chinese Drywall

    It is obvious to everyone that we are in a housing crisis today.  The real estate market is suffering, and so ...
    • Site: productliabilitylawyer.com
  • How a Product Liability Case Works

    A product liability claim arises when a person is injured or killed by a defective or dangerous product.  Exam...
    • Site: productliabilitylawyer.com
  • Product Liability Laws

    The following links are sections of The US Code of Federal Regulations (CFR) relevant to the Product Liability...
    • Site: productliabilitylawyer.com
  • Insurance Bad Faith

      It’s easy to feel powerless when dealing with insurance companies. While they have a duty to pay for covered...
    • Site: consumerprotectionlawfirms.com
  • Defective Product Liability

    From toys to prescription drugs to automobiles, thousands of defective products are sold each day in the U.S. ...
    • Site: personalinjurylawyer.com

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