0
What is the liability for product warranty claims is an example of a liability that?
Wiki User
∙ 11y ago
Product warranty claims liability is an example of a liability that arises from a company's obligation to repair or replace products that are defective or do not meet the terms of the warranty. This liability represents the estimated cost of fulfilling these warranty claims and is recorded on the company's balance sheet as a potential expense that may need to be incurred in the future.
Add your answer:
Earn +20 pts
What type of attorney typically handle product liability claims?
The type of attorney that handles product liability claims is acatually a product liability attorney!
What does product liability insurance protect a business?
It provides liability coverage for claims, lawsuits, judgements and legal defense cost for the insured in the event that your product injures or kills some body.
What are contingent liabilities that are normally accrued?
A contingent liability which is normally accrued is estimated claims under a service warranty on new products sold.
What is the difference between employers' liability insurance and public liability insurance?
The difference between employers liability and public liability are simple. Employer liability insurance covers only claims made by the employees against the company. Public liability covers claims against the company by the general public as well as third parties claims.
What has the author Pamela J Brooks written?
Pamela J. Brooks has written: 'Introduction to claims' -- subject(s): Insurance, Liability, Law and legislation, Liability Insurance, Liability insurance claims, Property Insurance, Property insurance claims
Can your home be taken for liability claims?
yes
How do you use liability in a sentence?
The injury made him a liability to the squad. Liability insurance will normally pay claims by other drivers if you have an accident.
Warranty Claims is an Internal Failure Costs?
yes
How does the definition of liability apply to insurance claims?
The definition of liability in insurance claims means that the insured is protected in case they are sued. This coverage includes legal costs and payouts.
What does Liability insurance protect you against?
claims if you are at fault in a collision.
Does your own liability cover your pasenger?
Yes, if you are at fault in an accident, Your liability may cover certain claims of damage or injury for a passenger in your vehicle. Liability claims can come from passengers of either vehicle as well as pedestrians and other injured parties.
What is products completed operations insurance?
Product completed operations insurance is a liability insurance that covers manufacturers and contractors. This protects the insured in the claims brought by the products they have distributed, handled or sold.
