NART, which implemented Product Liability Insurance for the first time in Turkey 20 years ago with extended special conditions, brings together its knowledge gained from more than 30 years of experience and its power of connection with its international partners for you. Our aim is to keep the risk factor of your business arising from Turkey and the world activities under economic control by making use of a total of 20,000 risk managers in 108 countries through our partners.
Today, the protection of users and consumers, as well as customer-oriented services, and human rights are among the primary goals of companies and governments. As a result of the combination of mass production in the service sector and industry with automation in the production process, the possibility of multiple damage caused by faulty products arises in many sectors.
What is Product Liability Insurance?
- • Product Liability deals with material or bodily damage to third parties due to an error in the product.
- • Product Liability Insurance is not a Product Warranty Insurance, it is a liability insurance, it provides assurance against third parties regarding the product produced by the insured person, not the property.
What is Product Liability?
Product-related damages, which we frequently encounter in daily life, arise not only from the fault of the product, but also from misinforming about its use or not mentioning the dangerous side effects of the product.
Who Can Be Held Responsible for Damages?
According to the EU Product Liability Law;
- • Manufacturers of finished products, semi-finished products and raw materials
- • Those who market the goods produced by someone else with their own brands or titles as if they were their own.
- • Those who sell products of unknown manufacturer
- • Those who import products from outside the Community to an EU member country
According to the Consumer Protection Law in Turkey, the seller, dealer, manufacturer and importer are jointly and severally liable to the consumer for “defective goods or all kinds of damages caused by the defective goods”.
Recall Risks
The “Recall Guarantee”, which can be obtained in addition to the product liability insurance, comes into play in the recall of the faulty products purchased by the consumers from the market.
The following special conditions can be added to the guarantee.
- • Product Recall;
- • Loss of Profit;
- • Replacement Costs;
- • Rehabilitation Costs;
- • Defense Costs;
- • Expertise and Consultation Costs
