Public Liability Cover

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Public Liability Industrial, Non-Industrial& Storage Insurance.

Public Liability Industrial and Non-Industrial Risk Insurance policy provides cover for third party liabilities (bodily injury/property damage) arising out the manufacturing/ industrial / non industrial premises occupied by the insured.

Scope of Cover.

Policy covers third party legal liabilities arising out of the premises and operation of the Insured with respect to accidental death, bodily injury or disease, loss or damage to property and legal costs and expenses incurred with the prior consent of the Insurer and within the limit of indemnity.

Add-ons/Extensions:

The Policy can be extended to cover the following risks on payment of an additional premium.

  • Act of God Perils

  • Transportation extension

  • Food and Beverages extension

  • Industrial seepage, pollution and contamination extension.

  • Carriage of effluent (outside the premises) extension.

  • Benefit of Retroactive date.

  • Sport facilities, swimming pool and such other facilities extension.

  • Goods kept in the custody of Insured extension.

  • Coverage for multiple locations under a single policy.

Major Exclusions:

  • Deliberate, intentional or willful non-compliance of any statutory provision or functioning in disregard of your technical or administrative management

  • Liability as a result of all personal injuries such as slander, libel, wrongful eviction, false arrest, etc. and anguish, shock, or mental injury

  • Liabilities arising out of penalties, fines, punitive or exemplary damages resulting from the burgeoning of compensatory damages

  • Loss of a pure financial nature such as loss of goodwill, loss of market, etc.

  • Infringement of plans, patent, copyright, trade name, registered design, or trademark

  • Ownership, possession or use by or on behalf of you, of any aircraft, watercraft or hovercraft

  • Liability directly or indirectly caused by War and allied perils and any act of terrorism

  • Liabilities directly or indirectly caused by ionizing radiations or contamination by radioactivity from any nuclear waste or nuclear fuel

Sum Insured ( Limit of Indemnity)

The limit of indemnity should be selected after a proper assessment of public liability exposure. The limit under the policy are defined as:

  • Any One Accident (AOA): It defines the maximum amount payable for each accident under the policy.

  • Any One Year (AOY): It describes the maximum payable amount for any one year under the policy. Normally the ratio between AOA and AOY is fixed as 1:1 or 1:2 or 1:3 or 1:4.

Premium:

The amount of premium to be paid by the insured shall be calculated after considering factors includes

  • Limits of the indemnity

  • Risk group classification

  • Gross annual turnover

  • Number of locations

  • The extensions opted

Claim Procedures

On the occurrence of any Accident, whether or not the Insured receives any notice of an alleged claim/complaint, the Insured shall duly but in any event not later than 30 days inform the Company detailing the Accident.

if the Insured is desirous of entering into a compromise/settlement with the claimants, the Insured shall first seek the permission of the Company. Similarly, if any of the claimants or their agents have filed a court case against the Insured, and the Insured is desirous of entering into a compromise/settlement with the claimants, either within or outside the court process during the pendency of the proceedings, the Insured shall first seek the permission of the Company. For any legal liability that is admitted in terms of an order of court of competent jurisdiction, the Insured shall submit a duly filled ‘Claim Settlement Form’ detailing the liability accrued and the Defence Costs, if any or any other information that the Company may require.