Public Liability Insurance Policy

Key Feature

As per Public Liability Insurance Act, 1991, Any One Accident Limit (AOA) should not be for an amount less than the amount of the paid-up capital of your company and at the same time it should not exceed INR 5 crore AOA & Any One Year Limit (AOY) Ratio is fixed to 1:3, so AOY limit shall not exceed

INR 15 crore in any case.

Transportation Liability is covered

Territory and Jurisdiction is India only

Deductible is "Nil"

Amount equal to premium is contributed toward ERF (Environmental relief fund of Ministry of Environment)

Claim award/settlement amount is decided by the District Magistrate/ Collector

Liability in respect of each claimant is limited as per section 3 (1) of the act as:

INR 25,000 per person for fatal accidents

INR 12,500 for medical expenses incurred

Damage to private property limited to INR 6,000

fixed monthly relief not exceeding INR 1,000 per month up to a maximum of 3 months for loss of wages due to temporary partial disability

Coverage
The Public Liability Insurance Act Policy covers your legal liability to indemnify the affected parties in respect of accident involving a fortuitous, sudden or unintentional occurrence while handling any hazardous substance resulting in continuous, intermittent or repeated exposure to death, of or injury to, any person or damage to any property.

Exclusion
Fines, penalties, punitive and /or exemplary damages

Deliberate, willful non-compliance of any statutory requirements

Pure Contractual liability

Loss of pure financial nature like loss of goodwill, loss of market share etc.

Damage to property owned and/or occupied by the Insured or property under care, control and custody of the Insured

Professional liability

Dishonest/criminal acts of employees

War, strike, riot, civil commotion and/or terrorism

Nuclear radiation

Damages in respect of losses/liability arising outside India