Discontinued Products Liability is Here
Discontinued Products Liability Coverage
What happens when your clients who manufacture, distribute, sell or handle products win the lottery, retire, or move on to new ventures? While the door to their business may be closed, their products may remain in the marketplace for many years. These clients can still be held liable for property damage or bodily injury claims long after the business has discontinued operations.
Vela has seen an increase in mergers & acquisitions, particularly with industrial manufacturers. This activity is driven by both strategic and financial buyers looking to diversify and grow their business. This, coupled with the demographics of Baby Boomers looking to sell their business and retire, has created a very strong demand for Discontinued Products Liability Insurance.
Discontinued Products Liability Insurance coverage is provided by Vela's experienced and highly-trained underwriters and risk specialists. Our staff is able to think independently and can custom-tailor coverage to the unique situations presented by each risk.