Is Product Liability Insurance Compulsory for Medical Device Manufacturers?

[henry_fong168]

Hi All,

Just would like to ask are Product Liability Insurance compulsory for medical device manufacturers, importers and/or distributors?

If so, are there any limits or guidelines?

Thanks!
Henry

 

[Ronen E]

I believe that the answer would be market (country) specific.

Ronen.

 

[pkost]

I agree with Ronen, it's likely to be country specific, however you may find it driven more by your customers and your own businesses appetite for risk....We require all our suppliers to have Product liability insurance; it is an area that we do not flex on...if you don't have it to the level we require, we won't work with you.