How safe are your products? Take a look right now at your product line. Is there any item that would intentionally hurt the end-user? Chances are the answer is no.
Most retailers wouldn't knowingly sell a defective, recalled or dangerous product. But what if we sold an item that seriously injured or killed a customer? What if the manufacturer used a sub-par material in order to cut costs and that action resulted in the death of a user? Are you responsible for that death? Maybe! Gregory Boop, your About.com Guide to Business Insurance, says:
"...manufacturers are not the only ones subject to product liability exposure, retailers and wholesalers are often brought into a lawsuit for alleged negligence by the consumer."
Just this week the U.S. Consumer Product Safety Commission announced fines against four companies, including Kohl's Department Stores, for improperly selling hooded sweatshirts or jackets that have drawstrings at the neck, posing a safety hazard.
Learn more about product liability insurance and how you can be sure your retail business is covered.
- Business Licenses and Permits: Where to Find
- How to Handle Product Recalls
- Workplace Posters
- Other Insurance, Taxes and Legal Resources