Products Liability

products liabilityproducts liability

Cases of inappropriate products distributed in the market are published in increasing frequency, even cases where the defect is found afterwards, i.e. after the defective product has been put into circulation and is already in circulation for use by the public.

The subject of the Product Liability insurance is to indemnify the insured for the amounts found to be legally liable to pay as a compensation for causing bodily injury or property damage to third parties.

The bodily injury or property damage must have been caused by products obtained directly from production, manufacturing or primary processing.

The Product Liability Insurance relates to people or businesses that could be involved as defendants in a claim.

Such companies are:

  • Pharmaceutical industries
  • Food industries
  • Factories
  • Wineries
  • Bakeries
  • Patisserie

The Product Liability Insurance:

  • Relieves the insured from the costs of product withdrawal, general public notification, costs of destruction or storage, redistribution, etc.
  • Contributes significantly to the protection of public health, since it eliminates any hesitation associated with the cost of the withdrawal operation.
  • Benefits the insured, as it enhances the business image to consumers, while its social profile is apparent.

Kentriki Insurance Company Ltd Customer Service and its network of associates all over Cyprus
are at your disposal to provide you with more details.