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Quotes as of: 15.09.2026
All information is provided without guarantee or liability.

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HONOUR maintains Product Liability Insurance issued by People’s Insurance Company of China (PICC).

This insurance applies to legal liabilities arising from accidents caused by insured products supplied by HONOUR, subject to the terms, conditions, exclusions and limits specified in the insurance policy.

01

Insurance Coverage Statement

This statement provides a structured overview of HONOUR’s Product Liability Insurance. It does not amend, extend or replace the insurance policy.

 

Controlling document

All insurance claims and compensation shall be subject to the valid insurance policy issued by PICC.

02

Policy Information

Insurance Type: Product Liability Insurance
Policy Holder / Insured: Suzhou Hornour Energy High-Tech Co., Ltd
Policy Form: Occurrence Basis
Period of Insurance: As specified in the valid insurance policy
Territorial Limit: Worldwide (excluding USA and Canada)
Jurisdiction: Worldwide (excluding USA and Canada)

03

Scope of Insurance Liability

During the insurance period, if insured products supplied by HONOUR cause an accident within the insured territory, resulting in:

  • Bodily injury, illness or death of users, consumers, operators or other third parties; or
  • Property damage to third parties;

and HONOUR is legally liable for such damages, the insurer shall provide compensation according to the insurance policy and within the agreed limits of indemnity.

 

Coverage trigger

Coverage requires an accident caused by an insured product, qualifying third-party injury or property damage, and legal liability of HONOUR within the policy terms.

04

Compensation Limits

The current insurance coverage provides the following limits:

 

Aggregate Liability

RMB 20,000,000

Limit of aggregate liability.

Any One Accident

RMB 20,000,000

Maximum limit applicable to any one accident.

Bodily Injury

RMB 1,000,000

Limit per person per occurrence.

Property Damage

RMB 1,000,000

Limit per occurrence.

 

Definition

“Any One Accident” means one accident or a series of accidents arising from one event.

05

Claim Handling Procedure

When an insured accident or related legal claim occurs:

 

Step 01

Notification

HONOUR shall notify the insurer promptly after becoming aware of:

  • Product-related accidents;
  • Third-party claims;
  • Potential legal liability.

 

Step 02

Investigation and Cooperation

The insurer may investigate:

  • Cause of accident;
  • Relationship between the insured product and the claimed damage;
  • Liability determination;
  • Loss assessment.

HONOUR shall provide necessary documents and assistance required for claim assessment.

 

Step 03

Claim Determination

Claim Determination:

  • Applicable laws;
  • Court judgment;
  • Arbitration award;
  • Agreement reached between the insured party, claimant and insurer.

Compensation shall not exceed the applicable insurance limits.

06

Claim Handling Procedure

According to the insurance policy, the insured shall:

  • Provide truthful information when applying for insurance;
  • Pay insurance premiums according to the policy requirements;
  • Notify the insurer promptly after becoming aware of insured accidents;
  • Take reasonable measures to prevent or reduce losses;
  • Cooperate with accident investigation and claim handling;
  • Provide relevant documents and evidence required for claim assessment.

 

Effect of non-compliance

Failure to fulfill these obligations may affect insurance compensation according to the policy terms.

07

Main Exclusions

The insurance does not cover:

  • Loss or damage to the insured products themselves;
  • Product return, replacement or recall costs;
  • Losses relating to property owned, controlled or managed by the insured.

 

Liability exclusions

  • Liability assumed only through contractual agreements, unless such liability also exists without the agreement;
  • Employee-related liability under labor law or employment relationships;
  • Intentional illegal production or sales activities;
  • Fines, penalties or punitive damages.

 

Event-related exclusions

  • Pollution-related liabilities;
  • Damage to aircraft or ships;
  • War, armed conflict, terrorism or similar events;
  • Nuclear-related risks;
  • Other losses outside the scope of insurance coverage.
08

Relationship With Product Warranty

Product Liability Insurance and Product Warranty apply to different responsibilities.

 

Product Warranty

Product quality obligations

Covers product quality obligations according to HONOUR’s warranty terms, including applicable manufacturing, material and workmanship defects.

 

Product Warranty

Third-party legal liability

Applies to legally liable claims involving third-party bodily injury or property damage caused by insured products, according to the insurance policy.

09

Insurance Documentation

Insurance documents may be provided upon reasonable request for:

  • Supplier qualification review;
  • Project documentation;
  • Compliance assessment.

 

Policy precedence

All insurance claims and compensation shall be subject to the valid insurance policy issued by PICC.

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