Scope Of Cover
This Policy broadly covers:
Legal liability of the Insured towards damages to the third party with respect to:
• accidental death
• bodily injury or disease
• loss or damage to property
Sum Insured
Depending on exposure, the Proposer has to fix two limits of indemnity under the policy:
• Any One Accident (AOA)
• Any One Year (AOY)
AOA and AOY can be in ratio of 1:1, 1:2, 1:3 or 1:4. It is not permissible to issue the policy with unlimited liability.
Premium
Premium chargeable depends on the:
• risk group
• limits of indemnity selected
• ratio of limits
• number of locations
• annual turnover
Significant Exclusions
This Policy does not cover liability arising out of or in connection with:
• pollution
• any product
• any professional services deficiency
• personal injuries such as libel, slander, fines, penalties
• punitive or exemplary damages
• fines
• transportation of materials
Excess
Policy is subject to compulsory excess of 0.25% of AOA limit, subject to a:
• Maximum of Rs 1,00,000/-
• Minimum of Rs 1000/-
Higher excess opted on a voluntary basis qualifies for discount in premium.
