Products Liability Insurance is designed to cover legal liability for bodily injury to and/or damage to property of any third-party resulting from the products manufactured, sold, supplied or distributed by an insured. It can be issued as an extension to the Public Liability Insurance policy or as a stand-alone policy and the liability of the insured can arise from tort or from contract.

Scope of Cover

• The policy indemnifies the insured against all sums which the insured may become legally liable to pay compensation in respect of:
  • Accidental bodily injury (including death or disease) to any person
  • Accidental loss of or damage to material property caused by anything harmful or defective in any products sold, supplied, repaired or treated by the insured in connection with his business
• CAMINCO will only indemnify the insured on the condition that the accident occurred:
  • During the period of insurance
  • Within the territorial limits specified in the policy
  • On or after the retroactive date stated in the schedule of the policy, but the claim for the accident is only being made now
• The policy also covers all costs and expenses of litigation:
  • Recovered by any claimant against the insured
  • Incurred with the written consent of CAMINCO in respect of a claim against the insured for compensation
• The liability of CAMINCO under a Product Liability Insurance policy is on an aggregate limit basis, i.e. each claim paid will reduce the limit of indemnity during the period of insurance

• Details of the parties whose interest is to be covered
• Nature of business, i.e. manufacturer, wholesaler, retailer etc.
• Nature of goods and the purpose for which they are supplied
• Conditions of sale
• Total turnover of the business
• Amount of indemnity chosen by the client
• Countries to which goods are exported and cover for the importer/ distributor there
• Imports and country of origin and cover effected by the exporter there
• Past claims history

• The payment of claims under a Product Liability Insurance policy is usually on a "claims made basis", i.e. the policy applies to claims made against the insured during the period of insurance rather than claims occurring during the policy period