Get a Public Product Liability Insurance offer
Fast, Free and Personalized
Protect your business against third-party claims with a reliable product liability insurance in Cyprus. Trust Insurance offers product liability insurance plans with geographical extension, designed specifically for businesses in industries facing risks associated with their products.
Protecting the health and safety of consumers from defective products is a priority concern for all companies. It is essential that businesses and organizations involved in the production and distribution of products are similarly protected. Enjoy full coverage, guaranteed by Trust.
Ability to choose according to your needs the coverage limit of the geographic coverage limits of your contract extensions.
Aimed at Businesses and Organisations involved in the production and / or distribution of products.
It covers the insured's legal liability for payment of compensation to third parties in relation to:
This is a flexible insurance plan for the liability of the Insured for negligent acts or omissions in connection with the supply of products. It covers the legal liability to pay compensation to other persons in respect of accidental bodily injury or death by accident or illness and accidental loss or damage to their property, caused by and in connection with the production or placing on the market for consumption or use of defective products in the course of his commercial activity. It also covers the legal costs and expenses which the claimant is entitled to recover from the Insured as well as legal costs and expenses incurred with the written consent of the Company in connection with the defence, investigation or settlement of the claim.
The cover applies only in relation to court decisions of competent jurisdiction in the Republic of Cyprus unless otherwise agreed.
The Deductible Amount which is the amount or percentage that is not covered and/or deducted from the amount for each claim separately. A full reference to the limitations on coverage can be found in the Policy.
In the Republic of Cyprus, unless otherwise specified in your Insurance Policy.
Product liability insurance helps protect businesses from claims made against them regarding personal injuries or property damage caused by their products. You can get public liability coverage as a standalone policy, or as part of your Multi Insurance Liability Shield offered by Trust Insurance Cyprus.
Product Liability cover is not compulsory in Cyprus like the Employer Liability Insurance. However, it is essential for businesses that sell products as there is always a chance for a customer to receive a defective product that can harm them or their property. No matter if your business was or not at fault, Product Liability Insurance will cover you against fees and compensation.
No, Product Liability Insurance does not cover issues caused by apps, software, or IT products. It only covers lawsuits for physical harm or property harm caused by a product.
Product liability insurance helps cover the cost of a lawsuit raised by a client who got injured by a defective product your business produced or sold. However, it cannot cover the cost to recall defective products from the market. Discuss with Trust’s insurance agents about policies that can cover additional costs for faulty products.