Impaired Property Exclusion – General Liability Insurance

You manufacture widgets. Your widgets go into another product - a blimb - made by your customer. One day your customer calls and tells you that you widgets were not up to spec and that he has had to spend $200,000 to remove the widget and fix it so his blimb worked. He wants you to pay the $200,000. You want your insurance to pay.Sorry. Not … [Read more...]

Product Recall Expenses

Your latest product is sent to hundreds of customers. After a few days the complaints start to come in. There is a problem and you need to recall your shipments. You call your insurance agent who asks, "Was anyone hurt?" The answer is no, but their could be injuries if the items are left in the marketplace. General liability insurance includes … [Read more...]