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What is a product liability insurance policy?

Saturday, March 4, 2017, 1:36 PM

If a business manufactures a product (toys, food products or clothes) and it causes damage /harm or an economic loss to a third party/customer, then the business has to pay damages (compensation) for this loss. A product liability insurance policy pays up for the losses suffered by customers or a third party, due to damages caused by the products the business sells.
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