Manufacturers E O

Your business manufacturers a part for a customer s product. Most e o policies are claims made policies which means that in order for the claim to be covered both the work in question must be performed and the claim must be made during the policy period. Faulty workmanship picture this.

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After parts are delivered to the customer it s discovered the parts were incorrectly machined and need to be redone.

Manufacturers e o. You re a company that manufactures 15 000 parts for a customer. It responds to an insured s legal obligation to pay financial damages to any third party arising out of your negligence in designing or manufacturing your company s product. Manufacturers e o insurance will cover both the customer s financial loss and your legal costs. Poor incorrect or faulty products that you manufacture.

E o can provide protection where general and product liability can t. You ve got a great relationship with the customer and things are going well. Here are three claims examples that will make manufacturers want e o insurance coverage. Manufacturers e o is liability insurance that covers a manufacturing mistake or negligent service that results in a third party financial loss without bodily injury or property damage.

Manufacturer s e o responds to the financial damages an insured is legally obligated to pay a third party often a client or an end user due to negligence in the design or manufacturing of their own product regardless of a property damage or bodily injury trigger. Travelers provides manufacturers e o coverage that can be customized to the unique risks faced by manufacturers. Manufacturers e o coverage is designed to pick up these gaps in the manufacturers product liability coverage. E o insurance covers damages that result from.

Why manufacturers need e o. These scenarios help illustrate when manufacturer s errors omissions coverage may respond to a loss.