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Product liability insurance covers you if a product your business manufactures, distributes, imports, or sells causes injury to a person or damage to property. It covers your legal defence costs and any compensation awarded. In Australia, product liability is often included within a public liability policy.
Any business involved in the supply chain of a physical product — manufacturers, importers, distributors, wholesalers, and retailers — can face product liability claims. Under the Australian Consumer Law, a consumer can make a claim against any party in the supply chain, not just the manufacturer. Even retailers who did not manufacture the product can be held liable if the manufacturer cannot be identified or pursued.
Public liability covers incidents arising from your business operations and premises — a customer slipping over in your store, for example. Product liability specifically covers incidents caused by a product you have supplied. Many public liability policies include product liability as a standard extension, but the limits and conditions can vary. If your business is primarily product-based, confirm your policy explicitly includes product liability cover.
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