Product Liability

Product Liability

If your business activity involves sale, supply, service or manufacture of products, you are responsible for the quality of such products and any liability that may arise from such products once these are sold and/or delivered. Essentially, you are legally responsible for any damage that such products cause to the customers of such products.

Product liability insurance is designed to protect the business from claims resulting from accidental death/bodily injury or accidental damage to property belonging to a third party caused by nature or condition of any product manufactured, constructed, erected, sold, supplied, and/or serviced by you and/or your employees while engaged in the business

Products liability insurance should be taken out by any business, large or small that manufactures, sell or supply goods/products.

With optional covers available to choose from, you can also tailor the policy to best meet your business needs.

The premium is based on several factors viz. nature of product, territory, etc and generally determined on the basis of Turnover of the business and the limits of liability (indemnity) selected

Key Benefits

• Flexible options to extend your territory of cover
• Our presence across GCC (except Kuwait)
• Multi-locations can be covered under one single policy
• AXA’s Global expertise can be utilized in litigation matters
• Option to include Additional Insured available
•  Premium Adjustment provision at end of policy period

Product Details 

Product Liability insurance is designed to cover Insured’s Liability at law to pay as compensation for:

• bodily injury to or disease contracted by any person
• loss of or damage to material property
• loss of profits sustained by any person arising as the result of a claim under (i) and/or (ii) above  

Caused within the Territorial Limits by the nature and condition of:

• anything manufactured sold or supplied including containers and packaging
• anything constructed erected or installed
• anything repaired serviced tested or processed

By the Insured or any employee of the Insured within the defined Territorial Limits

Cover includes the claimant’s costs and insured’s own legal expenses.

The policy is on ‘claims made’ basis. ‘Claims made’ would mean Coverage will respond to incidents arising on or after the policy retroactive date and which are reported during the term of the policy

Sum Insured Selection - In Products Liability Insurance, the sum insured is referred to as Limit of Indemnity. This limit is fixed per occurrence (AOO) and usually has a ceiling on number of occurrence during the period.