Overview

products-liability insurance


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An insurance policy that pays any compensation the insured is legally liable to pay to customers who are killed, injured, or have property damaged as a result of a defect in a product that they have manufactured or supplied. Costs incurred as a consequence of the defect that are not legal damages would not be covered by a policy of this kind. A products-guarantee insurance is intended to cover these costs.

Subjects: Financial Institutions and Services.


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