Manufacturers penalty insurance

{
  "id": "MLC-T-INS-002122",
  "term": "Manufacturers penalty insurance",
  "field": "Insurance and risk management",
  "definition": "A specialized form of liability coverage that indemnifies a manufacturer for certain financial penalties or fines imposed by regulatory bodies. The policy responds when penalties arise from the unintentional non-compliance with statutes or regulations governing product standards, safety, or manufacturing processes. Coverage is highly specific and excludes fines related to criminal acts, willful misconduct, or those deemed uninsurable as a matter of public policy.",
  "url": "https://mlchart.com/terminology/insurance/manufacturers-penalty-insurance/"
}