Product Liability Insurance

Product Liability Insurance


To better provide one-stop all-around financial services and more value-added services to help our clients manage business risks, insurance services (agent insurance business) are becoming more and more important as part of industrial and commercial financial services.

We know your time is precious and we look forward to making it easy for you to find the insurance solution you need. Through our strategic partners, you can enjoy tailor-made one-stop insurance solutions, from property insurance, liability insurance, transportation insurance, and trade credit insurance to employee benefit-related insurance, to ensure your insurance needs are met.

Product Liability Insurance

Product liability refers to the legal compensation liability that the producer or seller should bear according to law for the personal injury or property loss of consumers and users caused by defective products.

The products mentioned in the product liability risk, from the perspective of product liability insurance terms and legal regulations, include not only the product itself in physical form but also the packaging, containers, parts, equipment provided with the product in physical form, as well as related information about the product. Instructions, warnings, and other information.

Whether you are a manufacturer, retailer, supplier, or exporter, you are at risk of product liability claims, and overseas buyers are also required to take full responsibility for exported products.

Product liability claims usually arise from actual or alleged defects in the design, manufacture, quality control, labeling, packaging, and warnings of the product. In some regions, even consumer misuse/misuse of the product can be grounds for a claim.

For more information on product liability, click on the following AIG product liability bi-monthly publications:

  • December 2013: Choose Meiya product liability insurance to escort “Made in China”; case study
  • February 2014: Global claims experts effectively manage risks for you; 2013 annual review of CPSC recalled products; overseas claims for product liability insurance
  • April 2014: Responsibility for Marketing Materials; Product Liability under Strict Liability; Case Study
  • June 2014: Product recall plan; security product liability insurance
  • August 2014: AIG claims to process; UL certification introduction
  • March 2015:AIG Product Liability Insurance Bimonthly – Issue 1 of 2015

feature of product

As an international exporter, you need a world-class insurance company to back you up. AIG Insurance and its group companies have accumulated extensive global experience in underwriting product liability insurance, and we will face the risk side by side with you.

US importers usually require the purchase of Commercial General Liability (CGL) for their goods exported to the US AIG’s CGL policy covers product liability. AIG Insurance Product Liability Insurance has the following characteristics:

  • Not just to help you arrange defense and pay defense costs, we provide “defense” insurance, when a claim arises, we will assign local experts to help you design and coordinate a comprehensive defense strategy
  • Adopt ISO standard insurance terms, Standard format of insurance terms approved by US courts

No restrictions on where the insured product can be used, as long as the product liability incident occurs within the coverage area

No exclusion of “punitive damages”

Insurance coverage

The product liability insurance part of AIG Insurance’s Commercial General Liability (CGL) has the following guarantees:

  • Completion operation liability guarantee (product liability insurance)
  • The public liability insurance part has the following guarantees:
  • Liability for premises and operations
  •  Liability for “infringement of personal rights” and “infringement of advertising”
  •  Liability for damage to the insured’s rented premises
  • Compensation for medical expenses
By Master James

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