Product liability insurance for the quality of products/services

We compensate for material damage caused to property, life or health of third parties (consumers of goods or services) as a result of the production and sale of goods or provision of services of inadequate quality
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Product liability insurance for the quality of products/services

Protection against risks

Civil liability for damage caused to third parties due to defects or errors in the manufactured goods or services provided

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Damage to property

We compensate for the costs incurred by third parties in connection with the destruction or damage to property, as well as the costs incurred to restore the violated right
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Harm to health

We compensate for the costs of treatment, lost earnings (or reduction thereof) of injured third parties as a result of disability, and additional costs of health recovery
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Harm to life

We compensate for the lost part of the earnings in case of loss of the breadwinner and funeral expenses
An event is recognized as insured if it occurs:

An event is recognized as insured if it occurs:

Act or omission

The act or omission of the Insured and the claim by the injured third party occurred during the period of validity of the contract.

Cause and effect relationship

There is a causal link between the Insured's actions or inaction and the damage, established by law in a court of law or recognized by the Insured.

Insurance territory

The damage is caused in the insurance territory.

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Benefits of insurance in INGO

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Reliability

Automatic reinsurance protection from international reinsurers with a reliability rating of at least A- (A.M.Best) / A+ (S&P)
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Experience and compliance

30 years of experience. INGO's insurance terms and conditions comply with general international requirements or the requirements of a specific contract
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Optimal insurance conditions

We offer quality insurance coverage at the best price
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Responsibility
Insured
Features of setting liability limits

Features of setting liability limits

The limit of liability is set at the client's discretion: depending on how much the client, the insured under the contract, wants to protect himself. It is also influenced by the insured's income, the probability and amount of possible losses, and the claims of the parent company/counterparties.

The contract may provide for a limit per insured event (sublimit - each and every loss (e.e.l.). No more than 2 sublimits within the total limit are allowed (for example: total limit 1 000 000, sublimit per event 500 000).

It is possible to set a sub-limit for a certain type of damage: life, health or property.

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The level of financial stability of INGO

uaAAifr
outlook - «Evolving»
8.12.2023

Frequently asked questions

In this section, we have collected the most frequently asked questions from our clients. If you do not find the information you are interested in, please use the feedback form.
Frequently asked questions
For whom is product liability insurance relevant?

Such an insurance contract is usually required:

  • exporters of goods to the countries of Europe and North America
  • companies providing services or performing certain works abroad
  • manufacturers of goods in the presence of an agreement on the use of license rights objects by license holders

Within Ukraine, such coverage is relevant for consumer protection, for example, for hotel or restaurant owners.

What is the cost of insurance?

The cost of insurance is calculated individually. The tariff is affected by:

  • the amount of coverage
  • type of goods produced and sold
  • type of work or services provided
  • total turnover (current and next year)
  • actual and planned revenue from the insured activity
  • availability of exports
  • work experience
  • history of claimed losses
What are the exclusions from insurance coverage?

The exhaustive list of exclusions is determined by the insurance contract on the basis of the INGO insurance rules.

The main exclusions from insurance coverage are:

  • Manufacturing (sale) of products / provision of services without a special permit (license)
  • Deliberate violation of the established technological rules for the manufacture of products, non-compliance with state requirements
  • Failure of the insured to provide information about products in Ukrainian
  • Failure to fulfill the obligation to withdraw the goods from circulation
  • Recall of products
  • Violation by the consumer of the goods of the terms of use, storage, disposal of goods, use of goods for other purposes
  • Reimbursement of the cost of the product itself, its repair (warranty obligations)
  • Financial losses, lost profits, interruption of production
  • Moral damage
  • Environmental pollution
  • Copyright infringement, unlawful use of trademarks, etc
  • Asbestos, lead-based paints, tobacco products, GMOs
  • Fines and penalties
  • Intentional, criminal acts (including gross negligence)

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