Liability Insurance

We also help Insurers for better understanding of risks and negotiate for better terms.Below given are some of the most commonly sought after policies in respect of Liability insurances.

Liability Insurance

We provide number of options available in respect this every increasing risk exposure and make things simpler to customers.These are somewhat complicated insurances which we try to make it simple for our customers while taking care of customer’s interest totally.With legal awareness being on rise and corporate frauds being on ever increasing trend, these policies provide protection against unexpected huge exposure.Understanding the customer’s requirement happens to be of paramount importance which we excel in.We help in finalizing the Best of insurance covers for minimum premium.

We also help Insurers for better understanding of risks and negotiate for better terms.Below given are some of the most commonly sought after policies in respect of Liability insurances

It pays for liability of the Insured Employer as per Workmen Compensation Act/Employee Compensation Act for the personal injury sustained or disease suffered by the employee during the Course of Employment and Out of Employment.The policy can be extended to cover liability as per Common Law or Fatal Accident Act.

Public Liability (Act) Insurance to cover the liability of the insured who owns, controls or handles certain named hazardous chemicals, detailed in the provision of the Act (Public liability Insurance Act 1991) towards third parties for the personal injury including death or property damage. This insurance is compulsory in respect of people referred above.

Public Liability (Industrial Risks) Insurance to cover the liability of factory owners or owners of goods in depot towards third parties for accidents arising out of their business operations.

Public Liability (Non-Industrial Risks) Insurance to cover the risks of Hotel owners, Clubs, Auditorium, Offices, Schools, Hospitals etc towards third parties from accidents arising out of their operations. The specific risk of food & beverage supplied by hotel, risk of swimming pool or entertainment facility provided by resort etc are also covered.

This policy can be taken by professionals such as Doctors, CAs, Solicitors, Architects etc. The Policy covers liability of these Professionals towards their customers for error, omission or negligence in the professional service rendered by them. (Claim for Professional negligence). Individual professionals or firms can also go for this policy.

The policy can be offered as ‘Errors and Omission Policy’ for any commercial establishment including Hospitals.

Errors and Omissions cover is similar to Professional Indemnity cover. It protects the financial interest of the organization against claim for negligence, errors, omissions or wrongful acts in the performance of professional duties for a fee. It does include acts involving negligence or malpractices. The policy covers, claim in respect of loss caused due to insured’s negligence or wrongful act or wrongful act of any other person to whom the work is outsourced by Insured and Insured being legally liable to it’s customers.

This policy covers the liability of the Insured to pay compensation for injury including death, damage or pollution arising out of use of the product due to defects in products supplied. Here, risks associated with tangible property only is covered. However, it is possible to cover similar risks in respect of services rendered (like any repair work etc-Completed Operations). In respect of property, the liability arises only after it has left the insured’s premises.

This policy provides protection against claims for bodily injury or property damage and host of other liabilities including Advertisement Injury, Personal Injury (Libel & Slander) etc. Personal Injury includes discrimination, harassment (other than employees) etc. Bodily Injury includes mental agony, humiliation, mental anguish, etc. Advertisement Injury includes trademark infringement. The policy can also be extended to include Product & Completed Operations, Liability in respect of rented premise, Medical Expenses liability, Pollution liability, etc

The policy protects the Directors and Officers in respect of allegation of wrongful conduct while acting as Director or Officer.

This cover is suitable for those Directors & key officers who are in a decision -making position. The directors and officers in pursuance of their duties may take some actions which may be in violation of certain statutes or Indian Laws. The insured can include Directors & Officers of its “subsidiary Company” also, subject to some conditions.

The wrongful acts can be a breach of duty, breach of trust, neglect, error, misstatement or misleading statements, omission or breach of any Act or any attempts to breach of any Indian Laws.

The policy also indemnifies the Directors or Officers against loss arising from claims made against them by reason of any wrongful Act in their Official capacity.

Cyber liability insurance coverage is designed to protect businesses against liability and expenses arising from the theft or loss of data, as well as liability and expenses arising from a breach of data security or privacy, particularly when the companies are hosting client information.Insurance cover also offers access to the services of cyber incident response specialists, crisis communication providers and legal experts to ensure that, both the financial and reputational repercussions of a breach are effectively managed.

Kidnap and Ransom also called as Extortion Insurance not only protects against financial loss but also provides the services ofa Crisis Management Agency and security consultants, to manage incident on the policy holder’s behalf. Covered Events include Kidnap/Alleged Kidnapping, Extortion, Wrongful detention, Hijacking and offers indemnity in respect of ransom money, Loss in transit, Consultant cost, 24 hours help of experts, Defence cost etc.

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