Product Liability Insurance defines the product liability risk and the types of claims that businesses may face from this exposure. Participants learn about the development of product liability law and the legal bases for lawsuits. Participants who partake and complete this training will be able to identify a business’s product liability exposures and recommend the appropriate insurance solutions for those risks.
After completing this course, participants will be able to
- Identify the types of businesses that are exposed to product liability claims;
- Describe the three basic types of product defects and the elements required to prove each type;
- Explain how modern product liability legal principles developed from common law;
- Identify the most common legal bases for product liability lawsuits and the elements required to prove each one;
- Describe the defenses that may be used for product liability claims; and
- Describe the insurance coverages available for the product liability risk, including the coverage provided under the commercial general liability coverage form, the product withdrawal coverage form, the businessowners policy, the workers’ compensation and employers liability policy, the auto dealers coverage form, and the home business insurance endorsement.
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