Are You Missing Out? The “Sweet” Benefits of Product Liability Insurance

Sweet Beehive Honey

A few years ago, I was helping a start-up manufacturing company in Utah with their insurance plan. Their product was a honey-based children’s cough syrup. As a representative of Beehive Insurance, I thought that seemed like a pretty “sweet” coincidence. Get it? Honey…Beehive…anyone?

Anyway, when the topic of Product Liability Insurance came up, my client was skeptical. After all, what could possibly go wrong with a product as simple and natural as honey? I explained to my client that when it comes to business (and as Murphy’s law clearly states) whatever can go wrong will go wrong.

Even a simple product like all-natural cough syrup can present a serious liability to your company. What would happen, for example, if a simple mechanical error in the manufacturing equipment introduced a contaminant into the syrup, and as a result, hundreds of children got sick? The manufacturing company could be held liable for damages, and general liability insurance might not offer adequate protection. This could mean a massive hit to your company’s financial well-being.

But it’s not just manufacturers who should consider product liability coverage. Wholesalers and retailers need product liability coverage too. Liability can extend to advertising claims, quality of instructions for use, labels and warnings, and shipping or display packaging. Other businesses or industries that should consider product liability insurance include:

  • Beauty Products
  • Clothing Retailers
  • Appliance Retailers
  • Home Improvement Suppliers
  • Pet Stores
  • Restaurants or other Food Producers/Sellers

It can be hard to anticipate every liability risk that could crop up from the products you manufacture and sell, and that’s where a product liability policy can help. It contributes to your overall risk management program by protecting your company from those unseen risks that are impossible to predict. And knowing that your company is well-protected – well I would say that’s pretty sweet!

To talk to an expert about Utah Product Liability Insurance, contact Beehive Insurance today.

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