As everyone knows cargo polices are freely assignable and different kinds of the policy options are available like open policy and specific policy. Open policy is especially intended to cover Inland movement of the consignments for the specified period of time. It is suitable to insured with vast numbers of the transactions throughout year. Business is inherently proposition as trader or manufacturer and you might fall victim to expensive and complicated law suits because of possibility. Amazing numbers of the features are involved in the inland transit insurance such as
- Liability extension
- Technical collaborators liability extension
- Benefit of retroactive date
- Coverage for defense cost which is incurred with prior consent
Everything to know about product liability insurance
Product liability insurance might protect your company against claims or suits arising from the products company which has sold or manufactured. This type of the insurance claims might be based on below things such as production or manufacturing law, design defect and defective warning or instructions. Basically product liability insurance Hong Kong is covered under general liability policy which could be covered with the liability which you have completed. Combined coverage is also known as product completed operations liability like bodily injury, property damage liability and coverage A. Product liability refers to situations where customer might purchase product and issue with the product cause bodily injury to third party. This kind of the insurance plays crucial role in massive numbers of applications like wholesaler, bakeries, florists, pet stores and gift shops. While choosing product liability insurance, you must follow some tips such as professional liability, commercial general liability insurance, property insurance, equipment breakdown insurance and data breach coverage. Commercial general liability is designed to protect your business from the loss when you found legally liable for property damage or bodily insurance to third party.