product liability insurance

Product liability insurance is a type of insurance that protects businesses from financial loss if their products cause harm or injury to consumers. If a customer claims a product is defective or unsafe and sues the company, this insurance helps cover legal costs, settlements, or judgments. It serves as a safety net for manufacturers, distributors, and retailers, ensuring that they can manage the risks associated with bringing products to market. Essentially, it helps businesses handle the financial fallout from potential claims related to their products.