Product Liability Insurance for Importers

Re: [spiers] Product Liability Insurance for Importers

Does anyone know of someone who offers Product Liability Insurance
for small biz importers? I have been having a hard time finding any
companies who will cover my product (a bottle opener).


This becomes an issue as one begins to sell to volume buyers, and a problem if
one sells 'too soon" to volume buyers.

One of the reasons we start at teh upscale stores is becasue they buy in low
quantities yet high profit margins. In this way we ever improve our products as
we build market, develop relationships and earn.

As our volumes increase bigger buyers ask us to get liability insurance.
Liability insurance all depends on past experience, and if there is little past
experience it is hard or impossible to figure risk, and thus premiums.

If you've been selling the items for 5 years to upscale stores without incident,
that helps the insurance people much (as well as earn you steady income). But
if we shoot for large sales early we run into the product liability concerns,
since volumes mean widespread distribtuin and more risk.

If you cannot find insurance, then the particular market you have identified is
resisting you, and you ought find another path. If this set of customers
demands that unobtainable insurance must be bundled with the product, then one
has to move on to other customers.

There is another route: often foreign manufacturers are already covered with
product liability insurance in USA, since they happen to be making and
distributing other items in USA.. if so, they may be willing to cover you under
their product liability insurance.

John

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