What are "Product Liability Insurance" and "Commercial Error or Omissions Liability Insurance"?
Product liability insurance refers to personal injury or property loss caused by accidents that occur in the underlying area of a product produced or sold by the insured, resulting from the use, consumption or operation of the product by any person. The insurance company shall bear the liability for compensation. Product Liability Insurance can effectively respond to sudden and accidental personal injuries and physical damage to tangible property, including loss resulting from the inability to use the property.
Commercial Error or Omissions Liability Insurance refers to the liability for damages that the user suffers because of financial losses due to the defects, inadequacies or inappropriacy of the products produced or sold by the insured, or the inability to perform the promised services in accordance with the contract and can be used to fill the gap of product quality assurance insurance.
What kind of insurance is GoodWe buying for its entire line of products?
In the PV inverter industry, very few companies apart from GoodWe willing to provide the two insurances for end users since they increase the company's operating costs and they are not fully understood by users. Thus, it is not surprising that many companies choose not to purchase.
GoodWe has always been known for its strict quality and service and has accumulated a good reputation in the industry due to a responsible attitude towards users. For this reason, GoodWe’s decision to purchase Product Liability Insurance and Commercial Error or Omissions Liability Insurance for its entire line of products, which provides the most comprehensive protection to users all over the world, is an example of GoodWe’s values.
Being customer-oriented and continuously creating value for them is an unremitting pursuit of GoodWe. Buying insurance for the entire product line is just one part of the company's focus on quality service. GoodWe is willing to pay more efforts than others.
Thinking about customers is not just an empty word, but an effective protection of users’ rights as a sincere way to win their trust.
GoodWe will continue to provide high-end insurance in the future, resolutely putting customer's interests and risk prevention as top priority, leading the industry, and letting the whole market develop in a healthier direction.
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