Useful Information when buying wholesalers insurance
Did you know, if you are wholesaling a product you have re-branded or imported from outside the EU you are liable for the injury or damage this causes.
In the eyes of the law, by simply changing the name or adding your logo to a product effectively changes your activities to manufacturing and could make you liable for the design or a fault in the product.
Looking at the Consumers Protection Act 1987 the law states –
Prohibiting the manufacture and supply of unsafe goods, making the manufacturer or seller of a defective product responsible for damage it causes liability is placed on the business who;
- Produced the goods
- Added their company name or logo to the goods
- Imported the goods from outside the EU
Examples of wholesale and distribution insurance claims
- You export a large amount of goods to a client, which gets lost in transit. You can cover this loss with a Marine or Goods in Transit Insurance.
- Your business imports a product from outside the EU for resale. The product is faulty and causes injury to a 3rd party. If covered correctly, your products liability can pay damages that may arise from any legal action taken against your business.
We would like the chance to discuss this with you and see how we can help!
To obtain a quotation please complete the enquiry form and we will get in contact with you within one working day.
Call our Wholesalers and Distributor Team Steve Neudegg & Simon Lawrence on 0345 365 2121 or email on firstname.lastname@example.org or email@example.com