Madanes insurance Agency

The Law of Product Liability (1980) is a law that was enacted in order to compensate a person who purchased a damaged good and was physically hearth by this product as a result of using it.

According to the Law of Product Liability (1980), any manufacturer or importer, marketer, handler, installer / supplier, or seller of products, even a person who package a products, whether for an whole product or for a component or parts of a product, are liable to damage caused by the use of the product.  This liability applies under the in Israel and anywhere else in the world. If the products are marketed abroad, it is very important to adapt the policy to appropriate territorial boundaries and jurisdictions.

Even product on-line sellers who market on the Internet are committed by most platforms to conduct product liability insurance.
This liability can be protected by a product liability insurance policy that provides an insurance solution and a deep pocket to be repaid (this is especially important in cases where the commercial company does not have a great deal of money or is at the beginning of its path and there is such damages in order to impede its continued activity) To be filed against him because of his responsibility for injury and / or damage to the body and / or property of any person and / or any body, including consequential damage that may be caused by a product created, treated, marketed, installed, etc.

Claims filed under this insurance are covered on the basis of claim maid, meaning that the coverage given for a claim that will be filed against the insured for the first time (and will be delivered to the insurer) is during the insurance period.
In the event that the policy is not renewed, it is possible to purchase a period of discovery or run-off period, which provides a solution for future claims from past activity until the day of  termination of the policy / day of cessation of insured activity.

It is important to renew the insurance every year and to maintain continuity of coverage to avoid a situation in which the policyholder may "fall between the chairs." It is advisable, as far as possible, to renew the insurance with the same insurer.

It is possible to expand the policy to cover the restitution of products, to expand coverage for the insured's on-line sellers, to combine the insurance with additional products such as third party liability insurance, professional liability and medical malpractice, if required.