Negligent Manufacture
Definition of "Negligent manufacture"
Charge against a business firm in a product liability insurance lawsuit. Manufacturers have been held responsible for their products. When consumers become injured while operating a lawnmower, flying in an airplane, driving a car, or any of hundreds of other ways, they have grounds to sue the manufacturer of these products for negligence. Product liability has become one of the most rapidly growing areas of liability exposure for businesses and one of the most difficult to insure against.
Popular Insurance Terms
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Employee of a state insurance department who audits statements of insurance companies to determine their continued solvency. ...
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Index that reflects changes in industrial output by manufacturers, mines, electric utilities, and natural gas utilities. This is a monthly index published by the Federal Reserve. ...
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