LSG offers you a “flexible” insurance solution that is
supported by the major insurers throughout South Africa.
Our commitment is to provide you with peace of mind, in the knowledge that all of your assets are covered by our panel of appropriate professionals. LSG offers you insurance cover with a difference, covering any eventuality.
LSG Insurance Services is a multi-faceted truly independent Broker.
PRODUCTS LIABILITY INSURANCE AND THE CONSUMER PROTECTION ACT
It is a generally known fact that the Consumer Protection Act and its impact on clients came into effect on 1 April 2011.
LSG wishes to ensure that we continue to give our clients comprehensive and suitable liability cover. Most insurers have changed their Public Liability offering to a broad form cover without any additional cost to you.
It is important to note that broad form cover alone will not provide the protection you need without the inclusion of Products Liability (and where necessary Defective Workmanship) cover.
Any business that is involved (whether in the repair, supply, distribution, manufacture, production, import, export or retail) with any product should purchase adequate cover under the Product Liability extension and the Defective Workmanship extension (where applicable).
The basic information we require to give you a Products Liability quote is:-
- Annual Turnover
- Limit of Indemnity
- Types of products involved
If you are unsure of whether your business needs this cover please complete the attached “questionnaire to be completed in respect of products liability”
The Consumer Protection Act is clear that any business involved in the product supply chain can be held strictly liable (no negligence needs to be proved), even if that company had no input into the manufacturing or producing of the product.
What is a Product? “Any tangible property (including containers and labels) after it has left the custody or control of the Insured which has been designed, specified, formulated, manufactured, constructed, installed, sold, supplied, distributed, treated, serviced, altered or repaired by or on behalf of the Insured”
Please contact Simon Griffiths should you wish to discuss the impact you may think the CPA may have on your business, rather be safe than sorry!
