Industrial – Public – Financial Liability Insurance Policy

Public Liability Insurance offers cover for third party liabilities (Bodily Injury / Property Damage) arising out of the premises occupied by the Insured and legal costs incurred in connection therewith. The policy can be extended to cover legal expenses arising out of Sudden and Accidental Pollution, Act of God Perils, Transportation of Hazardous Substances, Carriage of treated effluents etc.

Industrial and non-industrial units face the risk of becoming legally liable to pay damages to third parties as a result of accidental death/ bodily injury to third parties or loss or damage to the property belonging to a third party. In case of such events, establishments have to deal with a great deal of financial foes by way of the legal expenses. In the event of such contingencies, the Public Liability Insurance Policy helps by providing financial assistance to the insured.

Key Benefits

Depending upon your nature of operations can customize your Public Liability Insurance policies as follows:

• Public Liability Industrial Risks – For Manufacturing Units.
• Public Liability Non Industrial Risks – For Non-Manufacturing entities like IT companies, BPOs, Hotels, Schools, Restaurants and Clubs
• Public Liability Act – For all business units handling hazardous substances as per Public Liability Act, 1991.
• Complete protection against the different types of third party liability risks.
• Extendable to cover a host of risks such as pollution, transportation, technical collaborators liability, effluents, Acts of God, etc.
• Extended Notification and Claims Reporting Periods applicable
• Option to opt for voluntary excess in order to enable a discount in premium

 Who should buy?

Any industrial/non-industrial establishment can take the Reliance Public Liability Insurance Policy. This policy can be offered for manufacturing premises, Godowns / Warehouses. While this addresses the requirements of the manufacturing enterprises, other non manufacturing entities like IT companies, BPOs, Hotels, Schools, Restaurants and Clubs, can avail of this insurance cover.

Public Liability Insurance Policy Coverage

The policy covers your business against:

• Legal liability due to Third Party Injury or third party property damage caused by accidents occurring in the insured premises
• Cover can be extended to cover Act of God perils, transportation and accidental pollution liabilities, if opted by the insured
• Coverage includes the compensation payable and also defences costs incurred
• This cover can be offered to manufacturing risks (Public Liability – Industrial Risk Policy) and also to non-manufacturing risks (Public Liability – Non Industrial Risks)
• Legal liability of the insured towards any damages to the third party’s life or property
• Legal costs and expenses incurred by the insured with prior consent of the Company

                   Extensions can be availed for the following:

• Pollution Cover:  Liability towards pollution risks in connection with pollution , Contamination of atmosphere, water or land or other tangible property also covered
• Transportation Risk:  Liability arising out of transportation of hazardous material or substance
• Technical Collaborators Liability: Liability arising out of accidents occurring attributable to the defects in the designs or processes supplied by the technical collaborators.
• Effluents Risk:  Covers carriage of effluents outside the premises
• Act of God perils: Liability arising out Act of God perils depending upon the earthquake zone as per the fire insurance tariff in which the risk is situated.
• Indemnity Limits : 1] Any One Accident (AOA): Limit of liability under the policy per accident 2] Any One Year (AOY): Maximum limit of liability under the policy for any one year, Is expressed in ratios in relation to AOA

Public Liability Insurance Exclusions:

The policy does not cover liability arising out of

• War group nuclear group and Act of God of perils
• Transportation of materials and dangerous substances unless specifically covered
• Ownership, possession or use by or on behalf of the insured of any aircraft, watercraft or hovercraft, motor vehicle or trailer for which compulsory insurance is required by legislation
• Injury to any person under a contract of employment or apprenticeship with the insured when such injury arises out of the execution of such contract
• Arising under the Public Liability Insurance Act or any other statute that may come into force after the issue of this policy
• Assumed by the insured by any agreement and which would not have attached in the absence of such agreement
• Liability assumed by the Insured by agreement
• Arising out of all personal injuries such as libel, slander, false arrest, wrongful eviction, wrongful detention, defamation etc., and mental injury, anguish, or shock resulting thereof
• Infringement of plans, copyright, patent, trade name, trademark, registered design
• Fines, penalties, punitive or exemplary damages or any other damages resulting from the multiplication of compensatory damages
• Earthquake, earth-tremor, volcanic eruption, flood, storm, tempest, typhoon, hurricanes, tornado, cyclone or other Similar convulsions of nature and atmospheric disturbance
• Deliberate, wilful or intentional non-compliance of any Statutory provision or disregard of the insured’s technical or administrative management
• Loss of pure financial nature such as loss of goodwill, loss of market etc

Please refer to the Policy Wordings for the complete coverage, exclusions and terms and conditions of the policy.

We provide above services for following General Insurance Companies:-  Religare Health Insurance Company Limited, Apollo Munich Health Insurance Company Limited, Bajaj Allianz General Insurance Co. Ltd., Bharti AXA General Insurance Company Limited, Cholamandalam MS General Insurance Co. Ltd., Future Generali India Insurance Company Limited, HDFC ERGO General Insurance Co. Ltd., ICICI Lombard General Insurance Co. Ltd. , IFFCO Tokio General Insurance Co. Ltd., L&T General Insurance Company Limited, Liberty Videocon General Insurance Company Limited, Max Bupa Health Insurance Company Ltd., National Insurance Co. Ltd., Reliance General Insurance Co. Ltd., Royal Sundaram Alliance Insurance Co. Ltd, SBI General Insurance Company Limited, Shriram General Insurance Company Limited, Star Health and Allied Insurance Company Limited, Tata AIG General Insurance Co. Ltd., The New India Assurance Co. Ltd., The Oriental Insurance Co. Ltd., United India Insurance Co. Ltd.,Universal Sompo General Insurance Co. Ltd.,