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This policy broadly covers the owner's statutory liability on the no-fault principle for the following conditions resulting from an accident while handling any hazardous substances:
1. Death of or injury to any person
2. Damage to property

The Public Liability Insurance Act, 1991 provides that the indemnity limit for Any One Accident should not be less than the paid-up capital of the undertaking and not more than the amount, as may be prescribed by rules framed under the Act.

The rule currently stipulates that the insurer is liable to pay not more than `50 million for any one accident and not more than `150 million for any one year.

Premium calculations depend on two factors:
1. Limit of indemnity selected
2. Annual turnover (Gross sales of all goods including all levies and taxes)
3. A matching amount should be contributed towards the Environment Relief Fund

The Public Liability Insurance Act Policy covers your legal liability to indemnify the affected parties in respect of accident involving a fortuitous, sudden or unintentional occurrence while handling any hazardous substance resulting in continuous, intermittent or repeated exposure to death, of or injury to, any person or damage to any property.

• Fines, penalties, punitive and /or exemplary damages
• Deliberate, willful non-compliance of any statutory requirements
• Pure Contractual liability
• Loss of purely financial nature like loss of goodwill, loss of market share, etc.
• Damage to property owned and/or occupied by the Insured or property under the care, control, and custody of the Insured

This product is designed to protect you against your legal liability to pay compensation for injury or damage suffered by third party arising out of accidents occurring in your premises and resulting from your normal business operations. It is prudent risk mitigation practice to have such cover in place to ensure continuity of your business as a single incident may lead to heavy financial obligations.

Your legal liability to pay compensation to the third party in respect of bodily injury and / or property damage, suffered by them, arising out of the accidents occurring in your premises. It also covers the legal cost and expenses incurred by you in defence within the limit of indemnity.

• Act of God perils extension
• Transportation liability extension
• Sudden and accidental pollution extension
• Food and beverages liability extension
• Lift, elevator & escalator liability extension
• Coverage for other facilities like swimming pool, health club etc.

• Fines, penalties, punitive and/or exemplary damages
• Deliberate, willful non-compliance of any statutory requirements
• Bodily injury/property damage to persons under a contract of employment
• Pure contractual liability
• Loss of purely financial nature like loss of goodwill, loss of market share, etc.
• Damage to property owned and/or occupied by the insured or property under the care, control, and custody of the insured
• Professional liability
• Dishonest/criminal acts of employees
• War, strike, riot, civil commotion, and/or terrorism
• Nuclear radiations

As a manufacturer supplying products, you are always susceptible to the possibility that your product could cause damage to a third party – either property or a person. A small defect could open you up to massive claims.

In such a case, Product Liability Insurance is vitally important for product manufacturers. The policy not only protects your organization from claims but also covers legal costs associated with defending these claims against your organization.

The policy covers all sums (including defense costs) which the insured becomes legally liable to pay as damages as a consequence of:

Accidental death/bodily injury or disease to any third party;
Accidental damage to property belonging to a third party;

...arising out of any defect in the product manufactured by the insured and specifically mentioned in the policy after such product has left the insured’s premises. Coverage is written on a claims-made basis, i.e. a Liability policy that provides coverage for an injury or loss if the claim is first reported or filed during the policy period. However, the policy offers the benefit of retroactive date, i.e. a date stipulated in a claims-made Liability policy declarations section as the first date of incidents covered by the policy. The retroactive date is designed to provide coverage for claims resulting from incidents that take place prior to the current policy term.

Renewal claims-made policies usually have the retroactive date of the first policy issued to the insured. When this is not done, there is a gap in coverage.

The policy does not cover any Liability for product recall, product guarantee, pure financial loss such as loss of goodwill or loss of market. The policy also does not pay for the cost incurred for repairing or reconditioning or modifying the defective part of the product.

• Costs arising out of recall of any product
• Deliberate, willful, or intentional non-compliance with any statutory provision.
• Arising out of pure financial loss
• Arising out of fines, penalties, punitive and/or exemplary damages

Global extension: Policy can be extended to cover liability arising out of judgments or settlements made in countries anywhere in the world. Limited vendor’s Liability extension: Limited vendor’s Liability means Liability arising out of sale and distribution of named insured products by vendors with original warranties and instructions of use of the product specified by the manufacturers.

• Vendor’s Liability Extension
• Cover for exports when domestic turnover is also covered.
• Technical Collaborators Liability Extension
• Coverage for defense cost incurred with prior consent
• The benefit of Retroactive Date