Magazine date:
Nov 2011 Indian companies are concerned by the rising number of lawsuits and litigation costs. In an effort to guard against such lawsuits, Indian companies have resorted to their insurers to obtain products liability coverage.
Premium income achieved by this class of business has increased by 20% per year, that is, more than twice as fast as the GDP which is estimated at 8%.
Indian exporters are the biggest users of this type of protection, especially pharmaceutical companies and firms operating in the automobile sector.