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For instance other contract brands, plastic molders in addition to toolmakers have unique challenges with regards to obtaining comprehensive, low-priced product liability insurance. First, we serve a wide variety of markets, from medical to electronics to consumer products, and cannot predict which products we shall be making from one month to the up coming. Second, we usually make only a single component to our customer's product, and thus won't know how that completed product shall be used or just what its risks tend to be. These two factors alone ensure it is hard for a good insurer to correctly evaluate its exposure for any products of an average contract manufacturer.

Suppose you create a plastic "clip.” A careful insurer will inquire where that clip has got - on any pen, in a car, on a bloodstream vessel. An insurer may won't cover a risk no understand, or may only cover it into a very limited degree and in the very high value. Not disclosing or mischaracterizing for an insurer what you understand about the nature of one's product could be a big problem time that we have of a state. On the additional hand, if you might have disclosed it and also the insurer then declines to cover you, how would you like to tell your own customer that? If the coverage is available even so the premium is astronomical, is it possible add that expense into your quoted price and certainly competitive? These questions won't have easy as well as pleasant answers, we've found. But simply ignoring them would've far more uncomfortable consequences, so we think most are things every contract manufacturer should ask.