The American Herbal Products Association (AHPA) has posted a revised version of its insurance primer for the dietary supplement industry.
It answers common questions about product liability insurance, outlines the insurance purchasing process, and addresses common issues companies encounter when obtaining product liability insurance.
Among the questions addressed in the primer are the following:
- What is product liability insurance?
- What insurance coverage is included in a basic product liability insurance policy,
and what are the limits of coverage?
- How is the cost of product liability insurance determined?
- What is the minimum premium cost for product liability insurance for a small company?
- Are product labels required to be submitted to obtain product liability insurance?
- Why are some dietary ingredients excluded in policies offered by some insurance
companies, and how do insurers determine which ingredients should be excluded?
- What is the role of state regulators in the insurance industry?
AHPA members can log in here for a free download.
AHPA non-members can request a free download here.
This primer was created by AHPA staff, member company representatives, and key insurance advisors.