General > General Technical Chat
The path to commercial product
Psi:
--- Quote from: EEVblog on June 13, 2020, 07:32:19 am ---
--- Quote from: Mr. Scram on June 13, 2020, 03:34:05 am ---
--- Quote from: EEVblog on June 13, 2020, 02:47:39 am ---Really?
I have $20M product liability coverage + $20M Public Liability for AU$1280 a year. And this includes covering all my onsite location filming etc.
It was under $1k a year when I only had one lab and just me as the employee.
(Attachment Link)
--- End quote ---
Does that include any physical products?
--- End quote ---
Yes, of course, that's the point of it.
If my uCurrent or a multimeter somehow does harm to anyone or anything, then I'm covered.
--- End quote ---
Unless they can find some obscure regulatory certification the product should have had but didn't and weasel out of paying. Like insurance companies love to do.
nctnico:
--- Quote from: EEVblog on June 13, 2020, 02:47:39 am ---
--- Quote from: nctnico on June 09, 2020, 12:56:50 pm ---
--- Quote from: EEVblog on June 09, 2020, 11:10:58 am ---Of course you'd want to have business product liability insurance.
--- End quote ---
Which will be insanely expensive.
--- End quote ---
Really?
I have $20M product liability coverage + $20M Public Liability for AU$1280 a year. And this includes covering all my onsite location filming etc.
It was under $1k a year when I only had one lab and just me as the employee.
--- End quote ---
That seems quite cheap for product reliability; I'd be interested in the terms of it. Can those be found online somewhere? I know it will be tailored to Australian law so it is useless to me but nevertheless I'm curious.
I've been looking for product liability coverage myself but either insurance companies would hang up on me saying they don't insure industrial products OR I got a quotation for an insurance policy which excluded the risks I wanted to insure. In the end I just limited the risk for me in my terms & conditions.
EEVblog:
--- Quote from: nctnico on June 17, 2020, 01:26:03 pm ---
--- Quote from: EEVblog on June 13, 2020, 02:47:39 am ---
--- Quote from: nctnico on June 09, 2020, 12:56:50 pm ---
--- Quote from: EEVblog on June 09, 2020, 11:10:58 am ---Of course you'd want to have business product liability insurance.
--- End quote ---
Which will be insanely expensive.
--- End quote ---
Really?
I have $20M product liability coverage + $20M Public Liability for AU$1280 a year. And this includes covering all my onsite location filming etc.
It was under $1k a year when I only had one lab and just me as the employee.
--- End quote ---
That seems quite cheap for product reliability; I'd be interested in the terms of it. Can those be found online somewhere? I know it will be tailored to Australian law so it is useless to me but nevertheless I'm curious.
I've been looking for product liability coverage myself but either insurance companies would hang up on me saying they don't insure industrial products OR I got a quotation for an insurance policy which excluded the risks I wanted to insure. In the end I just limited the risk for me in my terms & conditions.
--- End quote ---
Some pertinent details in the attached, but it doesn't specifically state the kind of stuff that is covered, it's more general.
https://www.vero.com.au/content/dam/suncorp/insurance/vero/documents/policy-documents/vero-business-insurance-pds.pdf
I just told my insurance guy "I want cover that takes care of product liability in terms of it causing harm to person or property or business etc" and he assured me that it does. And I trust him, he's a friend of mine.
If you want something specific added to a policy then I'd guess that's going to cost you.
I found that when contacted direct most companies wouldn't touch me, or they'd give some absurd quote, as they had no idea what I was doing and didn't want the hassle. This is what insurance brokers are for.
Mr. Scram:
Having an insurer you can trust is an untold luxury. Most would prefer slow torture of their mother over having to pay out. Though usually it's just you who ends up being tortured.
Bud:
I get a picture of a multimeter when i click the link
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