Product Liability Insurance

Every business sets out to make sure that their products are of a high-quality, fit for use, and void of any problems. However, sometimes a problem can arise as a result of product use, and the supplier can be liable for the provision of that product.

What product liability provides is insurance that covers business liability for the sale of defective products, both at the retail and the manufacturing level. For businesses in the cannabis industry, this is an incredibly important form of business insurance to have, as it can protect a business against side effects and illness as a result of product consumption.

The insurance also covers a business in the event that a third party has an accident, or causes an accident, after having consumed the product. An example of this would be a third party claiming against your business after consuming your products and causing damage to property.

As legal cannabis growth and sale is not regulated by a federal body, the legislation around the cannabis industry can be very complicated and is still changing and developing. The industry, as it stands, is a sitting target for a vast range of product lawsuits, with every aspect of the industry, from growth to sale, at risk from product claims.

This comprehensive cover can help to cover costs if your business is subject to a claim for product problems.

No matter which part of the supply chain your business is involved in, call us today to discuss how your business can be better protected from the risk of product defects, recalls, and third-party claims.