Dietary supplement insurance is a type of insurance that protects dietary supplement manufacturers and distributors from the financial risks associated with product liability claims. Dietary supplement insurance can cover a variety of claims, including:
• Claims for bodily injury or property damage caused by a dietary supplement
• Claims for false advertising or misleading claims about a dietary supplement
• Claims for failure to warn about the risks of a dietary supplement
• Claims for contamination of a dietary supplement
Dietary supplement insurance is not required by law, but it is strongly recommended for all dietary supplement manufacturers and distributors. Dietary supplement insurance can help to protect your business from the financial risks associated with product liability claims.
There are a number of different types of dietary supplement insurance policies available. The most common type is a "claims-made" policy, which covers claims that are made during the policy period.
The cost of dietary supplement insurance varies depending on the size and nature of your business, the industry in which you operate, and the level of coverage that you purchase. It is important to shop around and compare rates before purchasing a policy.
Dietary supplement insurance is an important part of protecting your business from the financial risks associated with product liability claims. If you have any questions about dietary supplement insurance, you should consult with an insurance agent or broker.