Public Liability Insurance

Public Liability Insurance

The public liability insurance cover suits all the entrepreneurs exposed to liability due to negligence arising out of accidents during the course of their business operations.

The public liability insurance policy indemnifies against the amount the insured is legally liable to pay as damages to the third party victims. These may be:

  • Compensation for accidental death, bodily injury or disease to third parties.
  • Damage to or loss of property belonging to third parties arising out of an accident, including legal costs incurred with the prior consent of the insurer.
  • Legal and civil liabilities of the directors and officers of the company.
  • Extensions for pollution and transportation risks can be considered as per the requirements of customers at additional rates, terms and conditions.
Premium rates depend upon the type of risk based on hazard groups classified, the limit of liability, the annual anticipated turnover and the nature / scope of services provided.
As the prevailing public law is stringent and the courts are awarding huge sums arising out of liabilities, it is prudent to take such an insurance cover even in cases where it is not mandatory.

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