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The New India Assurance Liability Insurance |
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Carrier´s Liability Insurance
Highlights
Pay all sums for which the insured shall become legally liable as compensation for physical loss or destruction of or damage to goods or merchandise ... while in transit ... including during loading or unloading and while temporarily housed on or off vehicles in the ordinary course of transit.
Scope
Policy covers
• Damage to cargo directly caused by fire, explosion or accident to the carrying vehicle
• Carrier´s liability for cargo
• Cargo salvage, transhipment, emergency storage costs
• Financial loss due to the lost freight in respect of the damaged part of the cargo
• Legal and other costs, incurred in the litigation against the claimants
• Costs of average adjusters
• Breakage due to improper handling
• Flood or water damage or damage by other cargo
Commencement of Policy
The cover will commence with the loading of cargo on the vehicle and will be in force until unloading of the cargo at the discharging point or expiry of 7 days after the first arrival of the vehicle at the destination town whichever may first occur.
Exclusions
1. Liability under any other contract not under Carriers Act 1865
2. Liability in respect of damage to property belonging to insured or his employees or in his control
3. Inherent defect or vice, wear and tear, deterioration, spontaneous combustion or decay of perishable goods.
4. Consequential loss arising from loss or damage to goods
5. Any consequence of riots, strikes, war, ionising radiations.
6. Goods which may be illicit or illegal or smuggled.
Liability Insurance Act Policy
Scope
The policy covers the statutory liability of insured arising out of accidents occurring during the currency of the policy due to handling hazardous substances as provided in the PUBLIC LIABILITY INSURANCE ACT 1991 and the Rules framed thereunder.
Who can take the policy?
A person who owns or has control over handling any hazardous substance at the time of accident and includes:
1. in the case of a firm any of its partners
2. in the case of an association, any of its members,
3. in the case of a company, any of its directors, managers, secretaries or other officers who is directly in charge of, and is responsible to the company for the conduct of the business of the company.
Exclusions
This Policy does not cover liability:
1. arising out of willful or intentional non compliance of any statutory provisions.
2. in respect of fines, penalties, punitive and/or exemplary damages.
3. arising under any other legislation except in so for as provided for in Section 8 Sub Section (1) and (2) of the Act.
4. in respect of damage to property owned, leased or hired or under hire purchase or on loan to the Insured or otherwise in the Insured Owner´s control, care or custody.
5. directly or indirectly occasioned by happening through or in consequence of war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection or military or usurped power.
6. directly or indirectly caused by or contributed to by.
7. ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.
8. the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof.
Special Condition
Besides all usual conditions of liability conditions the following condition is applicable-
The Insured Owner shall keep record of annual turnover, and at the time of renewal of insurance declare such turnover and the Company may require all other details as. The Company shall at all reasonable times have full rights to call for and examine such records.
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 Top Providers |
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ICICI Prudential Life |
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SBI Life Insurance |
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Life Insurance Corp. |
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Bajaj Allianz Insurance |
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United India Insurance |
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