• Cannabis Laws and Commercial Drivers
  • What Insurance Do Contractors Need?
  • Mobile Equipment and Vehicle Fire Prevention
  • Is Your Business at Risk For Flooding?
  • 3 Small Business Risk Management Tips For Winter

Manufacturers, Do You Understand Your Products Liability Risks?

From an initial prototype sketch to the warning labels on a finished product, the decisions made during the course of bringing a product to market can come under intense scrutiny in a products liability claim. Manufacturers should focus on the potential risks across a product’s life cycle to help both prevent and defend against product liability claims.

In 2014, products liability led the list of top verdict categories for court cases. Among the top 100 verdicts by dollar value, a total of more than $33 billion in jury awards involved product liability.1 In addition to the financial costs of product liability, negative publicity can have a lasting effect on a company’s brand and reputation and lead to a loss of goodwill and market share.

“Companies need to be aware of the potential for product liability at every stage of the life cycle as well as their ability to defend the decisions that they make,” says Reese Cann, a Travelers Risk Control products liability professional. “For example, product liability claims can be made long after the products were manufactured. A manufacturer’s post-sale responsibilities may be questioned, such as updated warnings or instructions when a hazard is later determined.” Read More

Recent Articles & News
  • Cannabis Laws and Commercial Drivers
    anemptytextlline
    anemptytextlline
  • What Insurance Do Contractors Need?
    anemptytextlline
    anemptytextlline
  • Mobile Equipment and Vehicle Fire Prevention
    anemptytextlline
    anemptytextlline
  • Is Your Business at Risk For Flooding?
    anemptytextlline
    anemptytextlline
  • 3 Small Business Risk Management Tips For Winter
    anemptytextlline
    anemptytextlline
  • How to Build an Emergency Survival Kit
    anemptytextlline
    anemptytextlline
  • Renovating Your Home to FORTIFIED Standard
    anemptytextlline
    anemptytextlline
  • The Pros and Cons of Composite vs. Wood Decking
    anemptytextlline
    anemptytextlline
  • Hiring a Contractor Checklist and Tips
    anemptytextlline
    anemptytextlline
  • Questions to Ask Your Home Inspector
    anemptytextlline
    anemptytextlline
  • Buying vs. Renting a House? Five Questions to Consider
    anemptytextlline
    anemptytextlline
  • How to Help Prevent Offline Identity Fraud
    anemptytextlline
    anemptytextlline
  • 6 Essential Travel Tips
    anemptytextlline
    anemptytextlline
  • A New Sweep of Smart Home Security Devices
    anemptytextlline
    anemptytextlline
  • Make My Front Door Smarter
    anemptytextlline
    anemptytextlline
  • Preparing Your Home for Vacation
    anemptytextlline
    anemptytextlline
  • Premises Security and Liability
    anemptytextlline
    anemptytextlline
  • Breweries and the Craft of Managing Risks
    anemptytextlline
    anemptytextlline
  • New Car Replacement Coverage
    anemptytextlline
    anemptytextlline
  • What Does Loan or Lease Gap Insurance Cover?
    anemptytextlline
    anemptytextlline
  • Liability Insurance Coverage
    anemptytextlline
    anemptytextlline
  • Uninsured/Underinsured Motorist Insurance Coverage
    anemptytextlline
    anemptytextlline
  • Staying Safe Around Heavy Equipment
    anemptytextlline
    anemptytextlline
  • Protecting Your Construction Site from Fire, Water and Theft
    anemptytextlline
    anemptytextlline
  • Earthquake Facts and Safety Tips
    anemptytextlline
    anemptytextlline
  • Disaster Planning Guide
    anemptytextlline
    anemptytextlline
  • Returning to Your Property after a Hurricane
    anemptytextlline
    anemptytextlline
  • Hurricane Survival Guide: What to Do During and After the Storm
    anemptytextlline
    anemptytextlline
  • Hurricane Facts and Myths
    anemptytextlline
    anemptytextlline