The answer is Yes and No Many businesses purchase a claims-made product liability policy thinking it’s cheaper than an occurrence-based policy. On the surface, claims-made policies can be cheaper than the superior occurrence-based policies. However, if we closely examine a claims-made policy we see…
Claims-made policy forms are common in industries that sell high hazard products such as medical and children’s products. But it’s important to know not all claims-made forms are created equal. There are two distinct claims-made policy forms: Claims-Made & Reported…
The statute of limitations (time an injured party has to file notice of a lawsuit) is fairly consistent from state to state; however, the legal exception for minors can stop the statute of limitation and allow the injured party until their eighteenth birthday to file suit.
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