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Public Liability Insurance(Ind.
Risk) Policy |
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| Public Liability Insurance(Ind.
Risk) Policy |
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| Scope of cover |
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accidental death |
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bodily injury or disease |
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Loss or damage to property. |
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Legal costs and expenses incurred
with the prior consent of the Insurer and within
the limit of indemnity. |
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| Sum Insured |
| 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 Rs. 50
Million for any one accident and not more than Rs 150
Million for any one-year. |
| Premium |
| Premium charged
depends on two factors: |
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risk group |
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ratio of limits |
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number of locations |
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limit of indemnity selected |
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annual turnover (Gross Sales of all
goods including all levies and taxes) |
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| Significant Exclusions |
| This Policy
does not cover liability arising out of or in connection
with: |
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Pollution |
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any product |
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personal injuries such as: |
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libel |
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slander |
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penalties punitive or exemplary damages |
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transportation of materials |
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| Main Extensions |
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Industrial Seepage, pollution
and contamination extension |
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Carriage of effluents (outside the
premises) extension |
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Transportation extension |
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Technical collaborators extension |
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Act Of god |
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Perils extension. |
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Premium Calculation