If you are involved with getting a product to the public in almost any way, you may be vulnerable to a product liability lawsuit. This includes manufacturers, suppliers, retailers, distributors and any others who are involved in the process of getting products to customers. While nobody likes to think about it, if something goes wrong at any stage in this process there could be legal action taken against one or all of the people and businesses involved.

This is why having product liability insurance is so important for many businesses. It is typically a very affordable insurance option to hold and will provide you with the level of protection that you need to get through any type of lawsuit that may come up. If your business is involved with any type of product, you should look into getting this type of insurance. Here at GMI we help match up businesses with the right insurance policy for the right price. We help companies throughout New York, NJ and CT. If you’re interested, you can contact us now or read on to learn more about product liability.

Types of Product Liability Claims

If your company is named in a product liability lawsuit, the chances are that the plaintiff will be bringing up one of three types of liability. Understanding what these are cannot only help you to see the need for this type of insurance, but can also help you to take steps to avoid getting sued in the first place. The three main types of liability are:

• Failure-to-Warn – Some products carry with them an inherent risk that consumers should be aware of. If there is a danger of any type with using a product, it is essential that the customers have a clear warning before it is purchased.
• Design Defects – If a product is dangerous or becomes dangerous because of poor design, a lawsuit may be filed. Plaintiffs will typically just need to show that the product has filed to meet the ‘ordinary consumer expectations’ regarding the safety of a product.
• Manufacturing Defects – This is one of the most common types of liability and can be argued whether the defect is caused by poor quality craftsmanship, materials or nearly any other problem.

While all businesses should do everything they can to ensure that they are only manufacturing or distributing the highest quality, safest products possible, problems can come up. When this occurs, having product liability insurance can help protect your business. When a lawsuit is filed, this type of insurance can help cover the costs of legal defenses and any expenses related to the suit.

If you’re interested in learning more about product liability in New York, NJ or CT please make sure to give us a call. Our numbers are 212-671-2562 or 718-676-9743. Our insurance experts will be happy to answer any questions you may have and also work to match your needs up with the right insurance companies to get you the best coverage at the lowest prices.