Products Liability Insurance

This covers the insure's legal liabilty for bodily injury to persons, or loss of damage to material property caused by products or goods sold, supplied, erected, repaired, treated or installed by the insured in the course of its business.

It is not unusual to cover financial loss which is accompanied by bodily injury or loss of or damage to property.

The injury or damage must occur during the period of insurance. It does not matter whethe r the goods may have been manufactured in another period of insurance even prior to inception of the policy as the operative factor is whether the date of injury or damage falls within the current period of insurance.

Limit of Indemnity: a yearly aggregate limit is usually specified covering compensation payable and claimants costs + expenses.