We can help you claim
compensation following an accident
illness or injury - nationwide
Call: 0800 10 757 95
Never more so than in an uncertain financial market do businesses need to ensure they have product liability insurance in place to cover them against claims made for injuries sustained as a result of defective products.
The consequences of not having such cover can be disastrous. Not only will this scenario leave injured consumers hard pressed to receive appropriate compensation, it can also lead a business into financial difficulties, perhaps even bankruptcy.
Fortunately though, very few businesses will have difficulty finding an insurer who is willing to offer cover. In fact, most businesses will be able to get an attractive deal through their existing commercial insurance provider, so there is little excuse for any business going without cover.
Jamie McNab, a liability portfolio manager with Brit, explains, "Anyone who writes commercial insurance seems to write product liability, as it has historically been fairly attractive. Most basic core product liability cover looks pretty much the same wherever you get it. The difference between insurers is in the handling of complex claims. Where a client has a particularly complex product, it may want their broker to help it to choose an insurer with the appropriate expertise."
And it is not like businesses can complain there is a lack of choice in the market either. Even the smallest brokers can provide businesses with an extensive choice of cover. Andrew Robinson, a spokesperson with Cunningham Lindsey explains, "I've come across large blue-chip businesses with small provincial brokers, so it is a lot to do with relationships."
However, policies should not be limited to those that cover only against injury. Being covered against monetary loss and product recalls is also an essential part of any business practice that is both sensible and ethical.
Andrew Robinson comments again, "Product liability cover will protect a business should it supply a defective product that causes injury to a person or damage to other property. However, if there is no injury or damage but the third-party business suffers a monetary loss, it will not be covered unless financial loss cover is taken out.
"Product recall cover is also recommended, particularly in light of increasing legislation. There is also a greater awareness around product quality, more expectation that manufacturers will do something to recall a product if it is creating risk and greater policing of recalls - including applying sanctions if a recall is not implemented. There is a need for greater protection."
Cost free product liability claims with leading solicitors
The personal injury solicitors on our product liability panel are counted among the leading specialists currently working in the UK.
We handle all claims of this nature on a completely cost free basis. Win or lose, we ensure that the claimant is protected from both our costs and those of the opposing side.
We take no cuts in a won case, assuring all wining claimants 100 percent compensation.
All the solicitors on our panel work to the highest professional standards, strictly observing the Solicitors Regulation Authority's stringent Code of Conduct.
If you feel you might be entitled to compensation, you can make consult with an advisor today. Just echat, fill out an online claim form or call us on 0800 10 757 95.
