Product Liability Insurance
Product Liability Insurance
Product Liability Insurance
The Liability for Damages Arising from Unsafe Products Act B.E. 2551 stipulates liability of product owner to consumers, but Product Liability Insurance does not specify which type of products is categorized as unsafe. If a consumer suffers from damages arising from the use of any product, it will be deemed as an unsafe product, according to this Act. Therefore, all product manufacturers should have this insurance to prevent the unpredictable circumstances in the future.
The policy will pay the indemnity for the insured for its liability to the damaged party due to or as a result of the insured unsafe product that causes the damages within the coverage area for:
- Loss of life, or damages to body and health of the damaged party.
- Damaged to properties of the damaged party.
- Court cost as specified in a written consent from the insurance company.