What legislation allows product manufacturers to establish insurance programs for product liability?

The Purchasing Groups Act is significant because it allows groups of businesses with similar exposure to liability to come together to purchase insurance. This act facilitates the formation of purchasing groups that can negotiate better terms and rates for product liability insurance as a collective entity. By pooling resources and risks, manufacturers can achieve more favorable insurance coverage specifically tailored to their product liability concerns.

The legislation benefits manufacturers by enabling them to address common liability exposures collectively, thereby making it easier for them to gain access to necessary insurance products that might be too costly or difficult to obtain individually. This collective approach aims to enhance their ability to manage risks associated with product liability.

The other options relate to different aspects of insurance and risk management but do not specifically target the facilitation of product manufacturers' insurance programs in the same way that the Purchasing Groups Act does.