There are several things a consumer should be aware of when choosing a product liability
policy, because the coverage that is provided in the end is determined by the specifics of the policy from the beginning:
It simply makes economic sense for the United States lo establish a uniform, national standard for product liability
. In the post-Cold War era, all of Europe will have one common product liability
law for 320 million people living in 12 member nations and 6 0 affiliate nations.
No device company facing a product liability
claim wants to fight a two-front war, one with the plaintiff/patient and the other with one's own insurance company.
* As a wholesale distributor, we have scores of people asking us for "additional insured" status on our product liability
* The device firm lacks confidence in the defense attorney chosen by the product liability
carrier and insists on different counsel.
* Insurance companies offering product liability
insurance to generic manufacturers may leave the market when faced with insuring against increased risk, resulting in higher premiums for generic manufacturers.
Whether product liability
will make products safer is a question that should be framed more broadly in terms of whether product liability
also fosters the introduction of welfare-enhancing new products.
Contributors: Dan Jones is a partner and Mike Gray is an associate in Dinsmore's Product Liability
and Environmental Practice Groups' Cincinnati office.
(16) Restatement (Third) of Torts: Product Liability
[section] 4 cmt.
To cope with the potential legal fallout, many importers have sought liability insurance with product coverage, which typically covers claims arising from product-related damages to third party property, injuries to consumers, and the costs of defending a product liability
The legal consequences of such practice can be found in the Consumer Protection Act 1987, with reference to product liability
. The manufacturer is responsible for the product liability
of their products, thus ensuring that in the event of an adverse incident caused by their product, they are liable in the eyes of the law.
A product liability
bill has been introduced in the House.