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[Survey] Product liability insurance 16 replies,5437 views

#1

This is a survey to help me write an article addressing the forms of insurance and bonding.  As well as to help members to fully understand what each can or will do for their business.

Thanks for your input.

Ranger

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#2
Re: Product liability insurance
Replying to [Ranger]:

That's very considerate and certainly needed.

[em1]
#3
Re: Product liability insurance
Quoting from [Ranger]:

This is a survey to help me write an article addressing the forms of insurance and bonding.  As well as to help members to fully understand what each can or will do for their business.

Thanks for your input.

Ranger



I will be writting my article this weekend and would like to see a few more votes out here in response to the survey.  If you would like to see something added to the article or an explanation of a particular subject within Insurance and Bonding please post a reply and I will include it in my project.  Thanks so much to all the board members that make this forum work for everyone.

Best regards,

Ranger

SIGNATURE:
About Our Company

Me Tech Supply
ME Tech Supply a D. B. A provides sourcing solutions for both small and medium sized businesses. We are members of the GSAA whose Agents have verified more than 2. 5 million companies World WideWe offer low cos... More

#4
Re: Product liability insurance
Replying to [Ranger]:Sorry Sir, you posted the topic in wrong forums.

This is related to insurance insurance and trade terms.

Waiting to see your response.
#5
Re: Re: Product liability insurance
Quoting from [balu1234]:


Replying to [Ranger]:Sorry Sir, you posted the topic in wrong forums.


This is related to insurance insurance and trade terms.


Waiting to see your response.



Balu, I haven't yet finished my article due to other business.  However, the insurance IM talking about has nothing to do with the insurance that you would place on a product shipment.  Think of it as you owning a cruise ship and it sinks in the Indian Ocean with 300 passengers on board.  The liability insurance you obtain is for covering yourself due to mishap or negligence of the service you were providing.

Best regards,

Ranger

SIGNATURE:
About Our Company

Me Tech Supply
ME Tech Supply a D. B. A provides sourcing solutions for both small and medium sized businesses. We are members of the GSAA whose Agents have verified more than 2. 5 million companies World WideWe offer low cos... More

#6
Re: Re: Re: Product liability insurance
Replying to [Ranger]:

Intresting Topic ...is the paper work still going.....waiting for it Ranger ...Desperately[em3]
#7
Re: Product liability insurance
Replying to [Ranger]:
We are trying to promote some of our products to Wal-mart and they request us to carry PLI.
But for most of the buyers, they don't need this because the qty is small.
#8
Re: Product liability insurance
Replying to [Ranger]:
[em28]

Man what are you trying to convey. ??
#9
Re: Product liability insurance
All,

Ranger is asking about PRODUCT LAIBILITY.. not about insuring your shipment from Country A to Country B.

In a nutshell he is asking if you should cover you butt with a PRODUCT LIABILITY insurance before you sell it in your country.

Example
You buy 1,000 wooden folding chairs from a supplier in Country X. Once you have received your shipment you sell 100 of these chairs to 10 retailers. The retailer sells 10 chairs to a customer who takes them home for his party tonight. A guest of his sits in one of the chairs and it breaks casuing the guest to get a broken leg........ He and his friend sue the Retailer for selling them a bad product. The Retailer will cross sue you the importer. He bought the [product in good faith from you as being able to perform it's function.

So you are left having to pay... Ranger is asking should YOU buy Liability insurance in case this type of thing happens.

My answer. yes if the product can be dangerous when used in accordance to its purpose. (which is why I never import chairs!)
#10
Re: Re: Product liability insurance
Replying to [Foow]:

opps and also

Carrying the liability insurance will make buyers feel happier about carrying your product since they KNOW they cannot be sued for a malfunction etc.

I think some large retailers require their suppliers to produce this type of insurance but I am not sure.
#11
Re: Re: Product liability insurance
Replying to [Foow]:

Foow,

Good explanation! Tks. [em19]

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