If you are in the business of manufacturing or designing the products, it is necessary to buy auto manufacturer insurance to get coverage against those claims which may be filed against you by dissatisfied customers. These claims may be filed by customers when the product manufactured or designed by you doesn’t meet the quality standards. […]
Auto Manufacturer’s Liability Insurance
4 Features of Manufacturing and Automotive Insurance
Does your business belong to the manufacturing sector? Maybe you operate an automobile project on a project-to-project basis or are planning to expand your business operations. Whatever your scale of business is, it is necessary to purchase the manufacturing and automotive insurance. If you are looking for the manufacturing and automotive insurance, here are the […]
4 Tips To Buy Manufacturer Liability Insurance
A manufacturer liability insurance plays an indispensable role by shielding you against lawsuits which may be filed against you by your customer who is not satisfied with your product. This may happen due to design defects, manufacturing flaws, or when the government orders the product recall. As such situations can result into heavy losses, a […]
Does auto-manufacturers insurance cover the automobile components sold before insurance was bought?
No, a standard auto-manufacturer insurance policy does not cover the automobile component sold before insurance was bought. The product liability and product recall policy will trigger claims that occurred and were reported during the policy term period. The retroactive date plays a key role in claim settlement under auto manufacturers’ liability insurance cover. A retrospective […]
What types of expenses are covered under the auto-component manufacturer policy?
With the increasing frequency and speed of modern-day lawsuits, every manufacturing unit has started to become more proactive to minimize the fallout and recover customer trust. An auto component manufacturer should buy product liability insurance and product recall insurance in order to get coverage against client-related lawsuits. Following expenses are covered under auto-component manufacturer policy: […]
What is not covered in auto-component manufacturer insurance policy?
The auto-component manufacturer insurance policy covers product liability and product recall insurance. In order to secure your business operations against the financial loss due to product-related lawsuits or product recalls, buying a business liability policy is important and it is equally important to know the important aspects of this business insurance. Following are the exclusions […]