Product Liability Insurance Policies Required by Trademark Licensing Agreements Provided for Clients
July 04, 2018
BritMark at a Glance
2.6 UAH, bln
Value of the largest property insured
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We were pleased to help two more companies with such complex insurance product as product liability insurance.
Lately more and more companies have been targeting new foreign markets. It’s a normal practice for the western companies to require product liability insurance.
In Ukraine this insurance product is still to catch on. However, the number of recent unfortunate occurrences involving mass food poisoning, which can entail multimillion suites, speak in favor of the necessity of having product liability insurance.
As to our Clients, they were required to have product liability insurance in order to manufacture and sell the products under foreign company’s trademark. A number of direct inquiries to insurance companies brought no result as the coverage was denied due to the peculiarity of the manufactured product. The thing is that baby products are viewed as much more risky than all the other ones.
Luckily, with the help of BritMark the risks were placed, and both Clients received adequate insurance coverage in order to successfully execute their projects.
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