Yes, the principle of subrogation applies in the case of product liability insurance policy as well. If a product liability insurance company settles the claim, the insurer shall be subrogated to all of the policyholder’s rights of recovering the claim amount if the loss or damage happens due to the fault of the third party. […]
Does Public Liability Insurance Cover Subcontractors?
Does Public Liability Insurance cover Subcontractors as well? Yes, public liability insurance cover subcontractors as well. If you are working as a subcontractor, you are vulnerable to various kinds of losses or damages. Moreover, if you are working as a subcontractor, you are more likely to be running your own small business. Even if you […]
How to Calculate the Premium for Product Liability Insurance?
Product liability insurance plays an important role by covering you against various losses or damages which may arise due to the consumption or use of your defective item. The premium for product liability insurance is determined on the basis of the risk posed by-product along with factors like quality control procedure, exporting country, business turnover, […]