Product Liability
Product manufacturers, entrepreneurs, inventors are all in a race to bring niched products to the market and succeed but what about defects, recalls and utter failure of that product launch?
Do you fit into this exposure as the manufacturer, wholesaler, or distributor? Each one is at risk and one can even pick up the liability for all of them. Defective product claims can reach manufacturers on an international level and if wholesalers or distributors do not carry worldwide coverage then they are stuck with the liability that ends within their borders and cannot subrogate to the manufacturer.
For wholesalers and distributors that sell manufactured products under their own private label, they take on the liability of a manufacturer and therefore are usually charged the premium for it.
Do you fit into this exposure as the manufacturer, wholesaler, or distributor? Each one is at risk and one can even pick up the liability for all of them. Defective product claims can reach manufacturers on an international level and if wholesalers or distributors do not carry worldwide coverage then they are stuck with the liability that ends within their borders and cannot subrogate to the manufacturer.
For wholesalers and distributors that sell manufactured products under their own private label, they take on the liability of a manufacturer and therefore are usually charged the premium for it.