Product Liability Insurance

• Introduction
• Product Details
• Philosophy
• Original Policy Conditions

Philosophy

Underwriting

• Actively seek out client: reputation.
• Underwrite the entire company (management, finance, operation, R&D, sale and after sale service).
• Engineering to monitor and improve risk.
• Educate insured: impact of claim on them.
• Introduce procedure: prepare for TPL claims.
• Claims advisory: emphasize quality control, keep products and production records, educate client on what to do, cooperation, subrogation: active and timely action for insurer.

Products risk classification and loss prevention: refer to BEST underwriting guide.

Claims

• Depending upon recommendations from international reinsurers, the local insurers shall engage claim consultants to handle claims abroad.
• The local insurers shall also review claim causes and recommend the insured to institute corresponding measures for loss prevention.

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