Product Liability Insurance is for retailers and/or resellers, manufacturers, wholesalers, suppliers, importers and distributers. It protects your business from financial loss and/or claims due to bodily injury and property damage resulting from any physical product the insured supplies, manufactures, imports, distributes, and even resells to the public. Premiums for these policies are based upon the type of product, volume of sales, and the role of the insured in the process. If your business is involved in any part of the chain of commerce, then it is critical to secure product liability coverage. The policy will protect you from medical costs, compensatory damages, economic damages, attorney fees, costs and other punitive damages.