What is a product liability insurance policy?

A product liability insurance policy is a type of insurance coverage that helps protect manufacturers and sellers from being held liable for defective products that cause injury or harm to consumers. In the state of Oklahoma, there are specific laws and regulations governing dangerous products, including laws that require the sale of product liability insurance. This type of insurance is important because it helps protect manufacturers, distributors and retailers from the financial costs associated with product liability cases. Product liability insurance policies provide coverage if products cause physical damage to property or personal injury to users. Additionally, such policies may provide coverage if the products are proven to be defective, resulting in a product liability claim. In such cases, the manufacturer or seller may be required to pay for any medical expenses, pain and suffering, and other damages that may be associated with the use or possession of the product. Product liability insurance is an important part of complying with both state and federal laws and regulations for dangerous products in Oklahoma. Such policies provide important protection to manufacturers, distributors, and retailers, while ensuring consumers are provided with compensation if something goes wrong with a product. Without these insurance policies, businesses may be held liable for any damages that occur as a result of their product, which can be incredibly costly.

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What is a product liability insurance policy?

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