Portable space heaters are the second leading cause of home fires, after cooking. This is largely due to the thousands of electric heater malfunctions from product defects that occur in the United States each year. Low-income households are more likely to use space heaters as their primary form of heating. An estimated 3 million low-income households use space heaters as their main source of...
You can reduce the risk of suit against your eCommerce business by following these simple steps. After all, the more precautions you take now, the less likely it is that you’ll be involved in a lawsuit later on. Reduce the risk by tying with other companies In general, the more a company is part of a large distribution chain; the less likely they are to get sued. The risk of the suit is...
Ecommerce businesses face a much lower risk of being targeted in a lawsuit than traditional brick and mortar stores. However, there are still some things that you can do to protect your business from product liability lawsuits. This includes making sure you work with an experienced lawyer who understands the risks in this type of business. If you give more information about your company and what...
If you are a retailer, stylist, or any other small business owner in the beauty industry, chances are that you have done some research on how to best protect yourself and your interests. And if you haven’t yet, then here are a few good reasons why this is something you should be considering: If you work from home, then you are most likely not protected by a business insurance policy. This...
It’s every consumer’s worst nightmare: you bring something home that was supposed to be safe for your family, and it ends up causing bodily injury. Product liability law protects consumers by ensuring fault manufacturers are held liable when their products injure someone else. The product liability law is designed to ensure people aren’t hurt in accidents caused by a company’s...
If you are a product retailer or distributor, then I’m sure that safety is your number one priority. After all, if something goes wrong with a product and someone gets hurt, it’s not just the consumer who bears the brunt of the damage. That’s why prevention planning is so important for businesses like yours! In this article, we’re going to discuss how to prevent product...
It is not enough to know how important product liability insurance is to the financial protection of your business. You also need to be aware that it is equally important to know how to select the best insurance policy for product liability protection for your business; a policy that would cover your interests in the most efficient way possible. It is also important to aim for the most cost...
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...
Product liability coverage is a type of liability insurance that is vastly misunderstood. Who needs product liability coverage?, who does it protect?, how are claims filed?, and what type of claims are filed? are all questions that are commonly asked. Most businesses wind up taking out a general business liability policy, and while those do usually have some product liability coverage, some...
If you are a manufacturer, having business insurance for products can be great protection for you and your business. The term product liability refers to the liability for damages or negligence against the manufacturer. This is for damages arising out of the end-users due to a defective product. It is in the Products Liability Act of most countries. This act covers the fault-based product...