Colorado Springs Product Liability Insurance
All manufacturers need a product liability policy, as a general liability policy does not protect against lawsuits filed by someone alleging harm from a product sold to them. Premiums are reasonable, especially considering the alternative: finding an attorney, paying their retainer and then watching the meter run. A better way to manage this risk is to have a product liability policy providing you with the carrier’s “duty to defend”. Given the carrier’s desire not to be found liable, a policyholder can count on a vigorous defense.
The law assumes “strict liability” for the entire chain of distribution, from the maker, to the test lab, to the retailer. And as we have seen, it is easy for people, especially naïve users, to over-consume edibles, which can easily give rise to a claim.
And while it may be true that “cannabis never killed anyone”, that doesn’t prevent people from filing suit alleging harm, in which case all parties named in the legal action will have to appear in court.
We understand that these are uncomfortable considerations, but it’s our responsibility to inform our clients so they know how to manage these risks and avoid a catastrophic loss to their business.