Product Liability Insurance

Original Policy Conditions

Territory Worldwide
Jurisdiction Loss incurred locations, USA and worldwide.
Original Policy Period One year policy period plus any extension not exceeding 18 months in all.
Basis Occurrence basis, optional claims made basis.
Minimum Deductible US$5,000 each and every loss, claim expenses included.
Minimum Premium US$10,000
Supplementary Coverage Bond premium to release attachment. Vendor's coverage. Prejudgement interest awards. Legal fees and cost.
Rates "A" rated.
Wordings ISO Form with program's own endorsements, or PCA 94 (Occurrence Form) and PCA 86 (Claim Made Form) commonly used in the London market. Choice of form depends upon client's request and facultative support, if required.
Choice of Law and Jurisdiction in Original Policy People's Republic of China
Exclusions Products related to asbestos, war, terrotists' acts, nuclear waste, fusion or explosion, environmental impairment, gradual pollution, contamination, punitive damages, product recall, guarantee, warranty, workers compensation, damages to properties under care, custody and control.
Underwriting Requisites Completed applications (Acord Form), product information and field underwriting survey report, if necessary.