Indian Consumer Protection Act 2019 makes the product sellers, manufacturers or distributors liable for defects and the role of Product Liability Insurance Policy in protecting the Insured against such claims
Product Liability Insurance Policy
What is the Cost of Product Liability Insurance Policy?
The Cost of a Product Liability Insurance Policy in India can range from a few thousand rupees per year for small businesses and low-risk products to several lakhs of rupees per year for larger businesses and high-risk products. Premium Rates usually range between 1% to 2% for a Product Liability Insurance Policy