When dealing with the USA or Canada you may be asked by your customer for them to be named on your insurance policy as a dual insured. When exporting your products to the USA it’s not uncommon to see this type of request, or if you are a UK company that distributes or has the rights to brands or trademarks that have their origins in the USA.
Supermarkets are a typical example as are online market places such as Amazon or where you are shipping goods to Amazon FBA, or Fulfilled by Amazon as it’s also known.
This type of extension is common place in the USA, its standard practice in many instances that the supplier is named on the policy too.
The UK though is somewhat different, it is not always that easy to obtain in the UK insurance market and only very few insurers will provide such extensions.
Depending on the type of product you are selling also depends on whether the insurers that provide this type of extension will underwrite in any case and it really is on a case by case basis.
Speak with us as soon as possible when trying to obtain Dual Insured to satisfy your customer in the USA, subject to the types of product you are exporting we can provide an insurance policy that provides the liability insurance cover to satisfy your customer but also correctly protect you and your business.
As a manufacturer of a product you will have a standard products liability insurance cover, this covers the policyholder against any loss, damage or injury that a product may cause, it will provide the finances to cover defence in litigation, court costs and any compensation should the case be awarded against you.
Dual insured though goes a little further, what your customer is asking for is that the cover also protects them whilst they are selling your product against claims arising from the loss damage or injury your product may cause their customer.
Yes, by adding your customer as a dual insured to your product liability insurance increases the risk or potential costs to your own insurer who is effectively protecting both you as the main insured but also protecting your customer should a claim arise from them selling your goods.
We are specialist insurance brokers that provide product liability for UK exporters who ship their goods and products to the USA. We have access to some of the UK insurers that will provide USA product Liability insurance but also the insurers that provide Vendors Extension.
Speak to us today about your products or your plans for exporting to the USA or Canada and the types if insurance covers that you will need.
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