Product Liability Insurance #productliabilityinsurance #productliability
What is Product Liability?
What kind of events can trigger a Claim?
Do you really need Product Liability Insurance?
“I’m just a distributor. I shouldn’t have to pay much for my insurance.” Not so fast! You’re probably much more than a distributor. To find out, take this quiz:
- Do you import your product?
- Do you have your product made to your specifications?
- Is the product your name brand product?
- Did you create the instructions or warnings for your products?
If you answered “yes” to any of these questions, you are more than a distributor in the eyes of the law and your insurance carrier.
What does Product Liability Insurance Cover?
- Medical Technology Companies
- Medical Device Manufacturers
- Life Sciences Companies
- Process/Control Design Manufacturers
The average Product Liability Claim costs over $30,000
Specialty insurance carriers design coverage forms specifically tailored to these industries. Some of the additional coverages that are included in a stand-alone products/completed operation policy are:
- Worldwide Coverage
- Vendors Additional Insured Coverage
- Scientific Advisory Boards
- Sales Representatives
- Clinical Trails
- Clinical Research Organizations
- Clinical Research Coordinators, Monitors or Investigators
- Investigational Review Boards or Medical Ethics Committees
- Independent Engineers or Consultants
- Medical Staff Members
- Professional Services
- Known or Foreseeable Side Effects.
SciTech Insurance Pros
SciTech Insurance Pros is a specialized Product Liability Insurance Agency. We provide tailored insurance solutions to each and every one of our clients since we are an independent agency.
We serve Texas, California, Washington, Colorado, and many other states nationwide.
We provide specialized coverages such as Professional Liability Insurance, PCI Compliance Insurance, Product Liability Insurance, Technology Insurance, Clinical Trials Insurance, Cyber Insurance, Patent Insurance, and many more.
SciTech Insurance Pros is more than an insurance policy, we are your gateway for securing and protecting your Business. Call us at 855-845-5100
A proud member of Trusted Choice