Defective products are leading liability loss, says Allianz

Damaged property

An analysis of 100,000 corporate claims from over 100 countries costing $9.3bn (£7.47bn) from 2011 to 2016 revealed that 80% of liability losses arise from ten causes: defective products and work; collisions and crashes; human error; accidental damage; slips and falls'; water and smoke damage; environmental damage; natural hazards; vandalism and terrorism; property damage. In Asia the top five causes of liability losses by value of claims are: collisions, crashes; natural hazards; accidental