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product liability |
Also found in: Medical, Legal, Financial, Acronyms, Wikipedia, Hutchinson | 0.02 sec. |
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product liability: see liability liability, in law, an obligation of one party to another, usually to compensate financially. It is a fundamental aspect of tort law, although liability may also arise from duties entered into by special agreement, as in a contract or in the carrying out of a ..... Click the link for more information. . |
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Risk Retention Groups, Distribution by Line of Business Medical Malpractice Claims Made 41% Medical Malpractice Occurrence 3% Other Liability Occurrence 29% Commercial Auto Liability 2% Other Liability Claims Made 25% Product Liability 0% Note: Table made from pie chart. The plaintiff's firm Greene, Broillet & Wheeler LLP won a $30 million jury verdict in a product liability case stemming from a roof collapse in Carson in 2001. Last month, President Bush signed into law legislation that protects gun manufacturers from frivolous product liability lawsuits, usually filed by victims of crime or by their families. |
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product liability
