Product liability / Business liability insurance
It is no secret that technology companies face a number of risks that may cause severe bodily injuries as well as substantial damages to the property and financial losses to their customers such as for example lost profit. Moreover, technology companies are exposed to significant product liability risks and considerable financial losses, in particular in the event of a possible worldwide recall action.
Therefore, it is indispensable for technology companies and their executive staff to take care of their potential liability risks. First, it is necessary to negotiate the necessary liability restrictions in the master agreements with each customer. Second, an adequate business liability insurance is mandatory as some courts have decided that the company’s executive staff may be held liable personally in the event they have neglected their duty to provide for adequate business liability insurance. Third, each company needs to train its key personnel on the field of liability law to avoid unnecessary exposure to liability risks due to mistakes on the field of contract law.
We provide the following services pertaining to liability law and business liability insurance:
- Legal assistance in negotiations of master agreements with regard to special terms on warranties and liabilities,
- Examination and identification of possible gaps and loopholes in your company’s business liability insurance,
- Negotiation with business liability insurance companies pertaining to the optimization of your existing business liability insurance (we have established special terms and conditions for technology companies with insurance companies on the European as well as global market),
- Out of court negotiation and litigation services.