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Type of business insurance. Description. General liability insurance. Pays legal fees and settlements (up to your policy limits) if you get sued for a covered general cause. Product liability ...
The overwhelming majority of countries have strongly preferred to address product liability through legislative means. [2] In most countries, this occurred either by enacting a separate product liability act, adding product liability rules to an existing civil code, or including strict liability within a comprehensive Consumer Protection Act. [2]
US businesses spent another USD 13 billion on the liability portion of commercial multi-peril policies, USD 9.5 billion for medical malpractice and USD 3 billion for product liability covers. The UK is the world’s second largest market for liability insurance, with USD 9.9 billion of liability premiums in 2013. The largest sub-line of ...
The primary reason for professional liability coverage is that a typical general liability insurance policy will respond only to a bodily injury, property damage, personal injury or advertising injury claim. Other forms of insurance cover employers, public and product liability. However, various professional services and products can give rise ...
The Third Restatement of the Law, Torts: Products Liability §2(b) [1] favors the risk-utility test over the Second Restatement of the Law, Torts §402(a), which favored the consumer expectations test. §2(b) states, in part, "A product is defective when, at the time of sale or distribution...is defective in design. A product is defective in ...
The California raw milk producer who has issued several product recalls for bird flu has has ... with hot water and soap. ... have food liability insurance ... so people can get that food, because ...
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