With the rising volume and interdependence of global trade, the demands for product liability become increasingly crucial and essential to manufacturers, distributors and suppliers; particularly for those products exporting to European and American countries. Aon-COFCO Product Liability is the leading provider of product liability insurance and risk solutions in China. Our team focuses on providing superior programme service to export enterprises.

Product Liability in Overseas Markets

In today’s global trade market, China is the biggest producer and exporter of manufactured goods in the world, whose trade surplus exceeds 5 percent of total volume of imports and exports. As China continues to be the largest labour market in the world, it is reasonable to expect continued growth in this area.

Given the different jurisdictions and the prevalence of safeguarding clients’ legal rights in different export countries, Chinese vendors are experiencing increasing claims pressure when exporting to America and Europe. Local exporters with large quantities of foreign orders or companies who plan to develop within the European and US markets will inevitably face the following issues:

• Security during product manufacturing or selling
• Lawsuits and large compensation caused by product liability
• Unable to recall the defective product efficiently for lack of feasible recall system
• Strict policy request from international purchaser

While your company is working hard to capitalise on the global market, it is imperative to recognise and avoid the following conditions:

• When accidents occur against your products, you may have to be up against clients’ claim with large amount and a series of action.
• Large court settlements which may lead to damage to your brand or losses that could cripple your business.
• Media exposure of a single occurrence may expand to batch claims and lead to collective lawsuit, which will significantly bring up the compensation amount and potential damage to your business.

Aon-COFCO Risk Management Solutions

Product Liability Insurance
Product liability insurance is designed to cover claims that may arise from personal injury and property damage as a result of using your products.

Coverage includes:

• Design defect
• Manufacturing or production flaws
• Defective adequate instructions and warnings
• The expense or cost of investigation, defense and litigation

Why Aon-COFCO Product Liability?

At Aon-COFCO, we understand our clients’ risk through our commitment to risk engineering and loss control reports that enable us to produce comprehensive product liability risk solutions and drive competitive pricing in the insurance market.

Through close relationship with international product liability insurance markets, we can arrange competitive insurance proposal with our expert negotiate skills. and it will ensure the sustainable growth of your business globally.