Product liability insurance

{
  "id": "MLC-T-INS-002697",
  "term": "Product liability insurance",
  "field": "Insurance and risk management",
  "definition": "Coverage that protects manufacturers, distributors, and retailers from financial losses due to claims of bodily injury or property damage caused by a defective product they have sold or supplied. This insurance responds to lawsuits alleging design defects, manufacturing flaws, or inadequate warnings. It is a necessary protection for businesses that place goods into the stream of commerce.",
  "url": "https://mlchart.com/terminology/insurance/product-liability-insurance/"
}