South Carolina insurance company unveils new Firearms and Gun Program

The program is designed to give the firearms and gun businesses greater flexibility in choosing options to tailor coverage to their specific needs.

These options include Professional Liability, Care, Custody and Control Coverage for gunsmiths, Product Recall Withdrawal Expense, ATF Local, State, Federal Proceeding Endorsement, Employee Benefits, Additional Insured Vendors Endorsement and Hired & Non-Owned Auto Liability.

Paul Owens, the manager of Sadler & Company’s Product Liability Division, said that the new firearm business liability insurance represents a vast improvement over previous insurance coverage for firearm stores.

“We have always been able to provide product liability insurance to firearms and gun businesses, but this is the first time we have a had firearms and gun insurance program that was fast, easy and affordable for most businesses within the firearms industry,” he said. “Also, in the past, we really struggled with providing decent property insurance to firearms and gun businesses.”

Under the program, the policy can be written on Occurrence Form, CG 00 01, or Claims Made Form, CG 00 02. Sadler & Company also offers deductible or self-insured retention, and coverage is available in all states except Hawaii and Alaska. Defense cost can provide inside or outside the limits of liability.

Property Insurance is written on Special Form and includes theft coverage, with replacement cost. Other property enhancements include crime coverage, inland marine (Property In Transit), Sump Pump/Water Back Up, Valuable Papers, Electronic Data Liability, Account Receipts, Outdoor Property/Signs and Reward & Fire Protection Devise Recharge. The program also offers Wind/Hail Coverage for businesses not located within one mile of an ocean or certain bodies of water.

Deductibles range from $1,000 to $5,000.

Owens said that the variety of perks and options offered under the program’s property insurance set Sadler & Company’s protection apart.

“Very few insurance carriers want to insure the property of firearms businesses, because of the high theft, fire and pollution exposures they often represent,” Owen explained. “The Sadler firearms program has an A rated insurance carrier that understands the firearms business and provides special comprehensive property coverage for all aspects of the firearms industry.”

“This program allows us to meet the liability, property and professional coverage needs cost-effectively and efficiently,” he said.

Sadler & Company, Inc. is an independent insurance agency that specializes in providing product liability insurance to start-ups and small to medium-sized businesses that manufacture or sell unique and high hazard products. Sadler & Company, Inc is licensed in all 50 states currently insures businesses that manufacture, import and distribute products such as sports equipment, medical devices, pharmaceuticals, dietary supplements, children’s products, scooters, trucking and trailer, chemicals and nanotechnology products.

For more information about the Firearms and Guns Program, visit

How Product Liability Insurance Is Vital to Your Business?

In today’s world, it is very easy to make claims for a small blunder. And nowadays, no matter what the degree of damage is, there is always an option to file a case. Realizing this, most of the business owners are aware of the fact that only one act of carelessness could lead them to the court and those who are wise get their insurance coverage.

Product liability insurance protects the business owners in case if something goes wrong with the product or if the product fails to fulfill the requirements. A product could be of any kind like food products, drugs, etc. Although it is important to mention that what are the things the policy does not cover like if the quality of a product is really bad and there is an intentional or unintentional quality flaw the business losses have to be beard by the owner.

The issues need to be taken seriously when a court is involved, and claims are made. The insurance company would be then taking care of the payments of the claims.

The firms that are involved in the supply chains are also included in it. The reason being the person transferring goods is the only who knew the manufacturing company. As a matter of fact, if a product is having a company’s name, if the company was storing it, involved in repairing n improving it, imported it, or if the manufacturer is out of business; all such cases lead the company to face the claims.

Considering the above discussion, we come to know that the product liability insurance is vital to your business as it serves to save your money and energy.

Product liability insurance is increasingly becoming one of the most important business decisions for any business organization in recent times. With the advent of mass production and mass consumption, businesses are at risk of liabilities when a customer or consumer suffers personal injury, or other forms of negative consequence when a product malfunctions or turns out to be defective.

The interesting thing about product liability cases is that there is a likelihood that the consumer gets the sympathies of the courtroom against the monster business giant that has produced or sold the defective product. This is mostly because the courtrooms are inhabited by judges and juries who tend to identify with the consumer and feel that they could have been the victim, rather than identifying with the corporate entity.

Product liability claims can be made in various ways.

Generally, though, there are two basic classifications of product liability.

There is a type of product liability claim that is made when a user suffers injury because of inadequate or lack of proper warnings as to the inherent defects of a product. This type of liability is technically based on fault, and the manufacturer of the product may be liable to intentional misrepresentation or fraud as well be held liable for sheer negligence.

The other category of liability is the strict liability, which is when a manufacturer is held liable because of inadequate information. This liability is usually borne due to the long line of parties involved in manufacturing to the distribution of the product.

Liability insurance for products is therefore needed to protect businesses against potential liability and losses due to claims that might be brought by buyers of the product or even third parties who have suffered directly or indirectly from the malfunction, dysfunction or defectiveness of a product.

Product Liability Insurance an Important Type of Insurance for Business Owners

In the current climes in which we find ourselves, people are very fast in making litigation claims against virtually anyone, and with regards virtually anything. In fact these days, it rarely matters if the case is something minor or major. With this in mind business owners know that they are one mistake away from litigation and as such, most of them get product liability insurance coverage for the risks associated to the products.

With the product liability insurance, a business owner is protected against litigations and claims relating to any of the products they manufacture or sell.

Products referred to include food and drugs. It must be pointed out though that this type of insurance policy does not cover whatever losses the owner of the business owner might have suffered owing to badly manufacture products that were supplied to the public. It only comes into play when a business has been taken to court and claims made. The insuring firm just takes on the cost of the claims made.

Even companies that deal on supplies only are not exempted from this. This is because the individual that bought from the supplying firm only knows the firm he or she bought it from. In fact, a company will be liable to face claims if their business name is on the product, if they changed, repaired or restored the product if they imported the goods and if the manufacturing company is out of business.

Having put all these into consideration, it is very important therefore that a business has this as it prevents them from losing money in two ways.

Do You Have Product Liability Insurance for Your Business?

Actually, Insurance policies generally refer to policies which help individuals protect themselves from losses. The more common types of insurance are auto insurance (takes care of financial losses arising from accidents), home insurance (protects the homeowner from damages in structures), health insurance (takes up hospital costs) and life insurance (helps in taking care of the burial costs and living expenses of beneficiaries).

Getting quality product liability insurance is one that is not really as common, as fewer people know about it.

Business owners have to shoulder the blame when any of their products are viewed as bad by any prospective customer. In this case what usually happens is that the customer takes the business to the court stating what needs to be paid to him or her as compensation for using or buying the bad product.

If the company in question has product liability insurance coverage, it would be very easy for them to bring in their insurance company to handle the case and shoulder the costs that will be incurred owing to the aggrieved customer’s claims.

If the business doesn’t have product liability insurance, they will not only lose funds to the customer’s claims but also they would lose potential customers in the future ensuring that their business takes a big hit from both sides.

If you don’t have this insurance policy, it is very expedient that you get one. You could talk with your current insurance provider and see what options they have for you or better still shop around for better deals.

Getting Your Product into a Retail Chain Store

Do you have an amazing product, but no way to get it into stores so people can buy it?

Pitching your product and how great it is to big-box retailers like Best Buy and Walmart may sound like an unachievable goal, but according to Karen Waksman (Founder of Retail MBA), this entrepreneur’s dream can be a reality.

Karen is a Manufacturer’s Rep turned author, speaker, and consultant. She helps entrepreneurs, product companies, inventors and manufacturers get their quality products on retail shelves around the nation.

Most business owners try to place their products into retail channels but fail because they don’t know the techniques for approaching retail buyers.

According to Karen, you really can get your product on the shelves of the world’s largest retailers even if you aren’t a salesperson and without having existing buyer relationships.

Karen says that purchasers do not care about sales strategies. They care about buying the right product. And most people don’t understand that there are proven strategies you can use to position your product as the right product for the retailer.

If you have a great product that you think would be a perfect fit for retailers, then check out this step-by-step Infographic and use it as a basic checklist to help get your product into a retail chain.

Read the full article here

Have a Product Business That Needs Liability Insurance?

In the past few years, the demand for product liability insurance has tremendously raised, possibly because of a rise in the industrial product yield and usage of new and improved products. With this, there is an associated risk of a greater chance of liabilities and lawsuits in case if the product fails to meet the requirements.

Considering the facts, getting a good insurance plan is the decision of all the wise business owners. Following are some frequently asked queries while selecting an insurance plan.

What are the coverage areas of this insurance?

As the name indicates, product liability insurance policy deals with any issue related to the product yield of a company. This kind of policy offers a good compensation plan in case of any claims arising due to your firm’s yield. If you haven’t forgotten the ‘Toyota recall’, the product was having the same insurance policy dealing with a product flaw.

What would be the cost of my insurance policy?

The cost of an insurance policy is highly variable. It depends on many factors like the magnitude of risk factors, the area of business, the place of work, the history of accidents associated with a specific business, etc. Whichever premium package you choose; it must be suitable according to your financial status and company yield.

Am I secure?

It is highly advisable to follow all the safety measures regarding the industry. One must keep on adding a good and expert working team, as well as launching advanced equipment; minimizing the chance of being sued by the clients.

The overall cost of providing protections has become more important another are policy qualifications that determine the best coverage and rates on an individual one on one client basis. Protecting your business from the threat of a forced closing or total loss of business ownership entirely is the possibility without the proper product liability insurance coverage. Every business is singular and may have specialized needs or a certain skill insurance broker. Small business; may need smaller but more experienced brokers.

There is always constant research that is being performed to insure the correct and correct payment dollar amounts within the insurance industry. Legal costs and settlements happen every day and are very important legal occurrences that affect coverage costs, amounts, and levels. Protecting your business from the threat of closing or loos of business ownership entirely is possible without the proper insurance. With proper liability insurance financial success is closer and more within reach.

What Kind of Needs Are Covered by a Insurance Policy for Product Liability?

A Products Liability Insurance Policy is a specialized type of small business insurance coverage that protects business owners from any damages caused to customers through the process of using such a product after purchase.

Product liability is an issue that cuts across almost all kinds of businesses; therefore, they all need to be properly covered by a product liability insurance policy. This insurance coverage provides protection for manufacturers, importers, wholesalers, retailers, suppliers as well as repairers of manufactured products against product liabilities.

If your business involves any of the ones mentioned above, you will have to make sure it is covered by this product liability insurance policy.

As a business owner, you have the responsibility to ensure that whatever product, you manufacture or sell, is of very good quality at all times. This is because any damage to customers resulting from the use of such a product may count against you.

Therefore, if you are responsible of sells, repairs or replacement of manufactured products or parts, you should be careful with what you buy for sale and ensure that all repairs or replacements are perfectly done so that you do not have to be held responsible for product liabilities.

Three Reasons You Could Face Judgments in Product Liability Cases

As a business owner, and especially as a manufacturer, there are three typical scenarios in which you might be facing a judgment arising from product liability. These scenarios can each result in a claim that would require strict product liability coverage to protect the business.

The first is a human error during the manufacturing process. This could include a single part or component of the product being defective or the omission of a crucial part of the product. If the party suing you for abnormally damages or injury arising from a defective product can prove that you deviated from specs or standards while creating the product, you could be facing a large claim.

The second scenario is when instructions and/or warnings are left off of the packaging or are not clear enough. A common issue here is that of language translation. When your instructions and warnings are translated into other languages for foreign packaging, do they mean the same thing?

The last scenario that can commonly induce a large products liability claim is simply that your design is flawed. Sometimes there is no human error, no lack of warnings; it is simply an element of the design that is lacking in safety. Often, this is because a manufacturer is too quick to market a product and doesn’t spend enough time in testing.

Since product liability is an issue that affects almost all types of businesses, it is only wise that every business owner ensures that his or her business is well covered by a product liability insurance policy. You will be more at peace knowing that your business is secured, especially from product liability.

What’s the Significance of Product Liability and Risk in Your Small Business?

Without a doubt risk and liability are a very scary but real factor for every retail business.

The supplier is also involved in the liability scenario. The supplier of a product may be liable as the manufacturer if he cannot name his supplier or manufacturer.

Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause.

When importing from a foreign country, the supplier shall be legally responsible, even if he can indeed name the manufacturer. However, the importer will not be considered liable. The Supplier’s liability is to be regarded as the alternative solution to the default liability. The supplier can be covered under a product liability policy.

It is undermined by the law in case of anonymous marketing products. Throughout the production chain, it may so happen that several persons are accountable for damages. In this case, They are liable to the injured party according to the law as joint debtors. The product liability insurance coverage would be effective here as well.

If the damage is done by instruction errors (wrong instructions) or other errors (incorrect installation), this party emerges as the final manufacturer. In this case, the actual manufacturer will not be liable for this and will not get product liability insurance. The scope of liability under product liability law of USA is partially limited.

For liability for damage, the product must be in accordance with the law. The fine amount is deductible, and the maximum limit is $ 500. Otherwise, the amount of liability is unlimited by.touch. The restriction is on other things if they were intended for private use or consumption.

Liability for body and health is also important for product liability insurance. First, the health damage costs of medical treatment are to be paid by the manufacturer. So the acquired damage can be taken by the injured party.

The damage needs to be assessed according to the law on the basis of acquisition failure. So, the cost to fix a health problem necessitated by the injury is covered by the product liability insurance.

This is valid unless it is objectively reasonable for the prevention of loss of income, and all vocational rehabilitation costs. Likewise, the injured party may make the claim for the cost of increased needs due to the impairment.

These include costs for diet meals, walkers, wheelchairs, or home care. So non-material damage insurance, i.e., pain and suffering, may be required.

Liability in case of death is a very important factor. If a person is killed as a result of the damage, the Liability Act fixes the extent of liability. The maximum limits of liability are decided by the law. In the USA, there is a liability limit of $85 million for personal injury.

The product liability insurance can cover this amount. This refers both to the liability to several victims of an incident, as well as for so-called “serial losses.” Overall, product liability insurance can be a lot of help to you and can save you a lot of money. You can get this insurance very easily by looking online.

Most product liability insurance providers have highly interactive websites, which can provide you with all the information you need.  Don’t wait, get a free insurance quote today before something happens. You’ll be glad that you did.

Eliminate Your Fears and Doubts about Selling Products with Some Risk

Today, “risk” is just part of being in business, but you don’t want to be foolish when selecting what types of products you sell. Today we all face areas of liability so you need to be able to sleep at night and know that you are covered from those risks.

More than likely if you or a manufacturer sell a product, you could have shopped for business product insurance in the past. You may have even come across news of consumer safety issues based on product recalls.

These type of issues can take down even a strong company. There are many benefits of this type of insurance coverage however, it is not a type of insurance that is needed by everyone.

First, to give an idea of exactly what kind of insurance this is, product liability insurance is an insurance policy that covers policyholders in the event that a lawsuit is started as a result of the insured’s product or products.

What this means is that the insured is actually someone who has created some kind of product or possibly many products.

Product Liability Insurance will actually protect the insured if someone does make a claim that their product has either physically or mentally harmed them. Engineering, designing, manufacturing and distributing is a very exciting adventure. Many people dream all of their lives about different products that would be great for the entire world to use.

Many of these people take their dream a step further and actually turn those magnificent ideas into real tangible products. However, if there is some kind of flaw in the product that potentially hurts someone or even poses a risk to harm someone then your lifelong dream may actually turn into a nightmare without the right type of liability insurance coverage.

Now if you are someone who qualifies for product liability coverage, you may be wondering what does this type of insurance policy actually cover. The way this type of coverage is designed is that it will protect the business against losses even if the loss is a result of negligence, or if the policyholder is liable for damage, injury or loss to someone else’s property.

Therefore, this type of product liability policy covers bodily injury and property damage and even claims that arise.

The bodily injury portion of the policy may pay for the affected person or firm for the cost of medical care, loss of service, and restitution in the event that death occurs.

The property damage section of the policy will pay for the value of physical damage to a property in the event that someone’s property was greatly damaged as a result of using your product. With this policy covering so much you may be assuming that this type of insurance is very expensive.

The good news is that there are low-cost liability insurance policies available for product manufacturers and resellers to cover your product business and inventions from recall liability.

For prices on product liability coverage, you should call an insurance agent for a product insurance quote.

A great resource to check out regarding product safety for product manufacturing type business is the U.S. Consumer Product Safety Commission website.

Product Liability Insurance Coverage Tips for the Business Minded

Today’s business world is much different than in the past when things were a lot simpler and life was less complicated. There were your basic products for everyday living and name brands you came to depend on. Now, there is a vast array of products to choose from all competing for the same consumers, and businesses need to know how to protect themselves in the event of unforeseen circumstances.

Forward thinking is the norm and being prepared for anything has become a way of life for most major manufacturers and even small companies.

When you think of your product, do you think of all the implications that can arise from its use? Or do you focus solely on getting the product in the hands of the consumer and advertising to keep your brand name in the minds of the public? Most companies think of all these things and more.

They have come to realize that they are just as vulnerable to mishaps like property damage and injury arising from the use of their products as anything else. That is why companies focus on protection by obtaining product liability insurance coverage.

Product liability insurance protects companies in the event that the products they have manufactured injure someone or cause property damage. In the case of lawsuits, product liability insurance protects a business financially due to claims or product defects. If you manufacture products to sell to the public it is a good idea to get product liability insurance so you can avoid unpleasant situations like a lawsuit that could possibly put you into bankruptcy or cause you to go out of business.

Product liability insurance policies go a long way in giving you the security you need as a business to produce products that are useful and valuable to your customers. However, you need to be aware of the implications arising from producing your products once they get into the hands of the consumers that will purchase them.

Liability Protection Tip: Be sure that warning labels are plain to see in how to use the product and how not to use the product. Also, perform some type of quality assurance control check before releasing the product to the public, such as making sure that the product works as stated and that it is free of product defects.

As a business it is your responsibility to produce products that are safe for use by the general public. Although you may have product liability insurance, going the extra mile to ensure the safety of your products will speak volumes about your company.

How to Know If Your Business Needs Product Indemnity Insurance

Liability is not a word many sellers and manufacturers like to use or hear in a sentence containing one or more of their products. However, like it or not, product liability is major theme that, whether you make, sell, or lease a product, you should be well aware of. Unfortunately, somewhere along the way in your business, more likely than not, you will be found liable for an injury caused by a product that your business sells to the public.

Having adequate defective products indemnity insurance coverage is essential to anyone who distributes products (whether you make, sell, or lease them does not matter). There are basically two types of product liability. Understanding these will not only help you in realizing why you need product liability insurance, but also help you prevent any future insurance claims. The first type of product liability is that based on fault. If a person is injured by a product because the product was misrepresented to that person, such as omitting to disclose a defect about the product, the distributor of that product can be held liable for intentional misrepresentation or fraud. If the product is assembled incorrectly, the product failed to be tested, or failures of due care are committed by the distributor of the product, that person can be held liable through an action of negligence.

The second type of product liability is that which is based on strict liability. Strict liability is a somewhat more advanced topic, as it applies liability without fault. It is under this type of product liability, for instance, that a product would fall if there a defect that results from inadequate instructions. Questions concerning strict liability and its implications on your product would be best left to an attorney to answer on a one on one basis. Regardless, hopefully this small introduction about product liability does help express the magnitude of product liability. Product liability is applicable to every product manufactured, sold, or leased. Therefore, product liability insurance at essential to all those who distribute products.