Getting your Product Liability Cover Right When Importing
A look at the importance of being properly protected when importing products into Australia.
Do you have the right product liability cover?
- With such an interconnected world, importing is very common
- The most importatnt thing to check is that you have Product Liability protection for the products you are bringing into Australia
When you are the "Deemed Manufacturer" and what that means.
- When you import products from a company that isn't locally represented here in Australia, at law you're the "deemed manufacturer" of those goods
- It is important to make sure your Product Liability is setup correctly so if a liability arises, you are protected
Importing should be noted specifically on your policy.
- The better quality Liability policies available note imported products as part of the definition of "Product", however, importing should always to be noted and agreed specifically by your insurer.
This article originally appeared on MMSE Blog and has been published here with permission.
Advisr does not provide advice and does not hold a financial service license (AFSL). All information above has been provided by Shane Brady.