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The economic loss rule - still a trusty shield for manufacturers?


Published: Friday, January 01, 2010
Author: Keith Richardson
Published in: Asia Insurance Review
Subject: Aerospace

The article analyses the applicability of the economic loss rule in the UK, US, Australia and Singapore. The economic loss rule is the presumption that purely financial or economic losses are generally unsustainable at law. For example, the rule protects manufacturers from liability exposure to an indeterminate class of Claimants for damage solely to a product itself. The article traces the jurisprudential development of the rule in various jurisdictions.