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Reliance Liability Insurance |
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Public Liability (Act)
As per Public Liability Act, 1991, anyone who owns, controls or handles hazardous chemicals as detailed in the provisions of the Act is required to take Public Liability (Act) insurance.
The policy covers
Liability of industries controlling or handling hazardous chemicals, by providing compensation to persons affected due to accident due to handling of such hazardous substances.
The Policy does not cover
1. War and nuclear perils and Act of God of perils
2. Wilful, deliberate and intentional non-compliance of statutory provisions
3. Loss of pure financial nature or loss of goodwill etc.
4. Injury or damage occurring prior to Retroactive Date in the schedule.
The Indemnity Limits under the policy is
Any One Accident :
Amount not less than the paid up capital of the insured subject to a maximum of Rs 5 crores
Any One Year :
Three times AOA subject to a maximum of Rs 15 crores
An amount equal to the premium will be collected towards contribution to Environmental Relief Fund (ERF).
In case of claims exceeding the above statutory limits, it is to be met by the ERF
Public Liability
The policy can be taken by any industrial/non-industrial establishment.
The policy covers
1. Legal liability in respect of injury and/or damage arising out of accidents in connection with the business of the Insured.
Injury shall mean death, bodily injury, illness or disease to any person and damage shall mean actual and/or physical damage to tangible property.
2. Legal costs, fees and expenses incurred with the prior consent of the Company.
The Policy does not cover
1. Contractual agreement liability
2. Convulsions of nature
3. Financial loss or loss of goodwill
4. Deliberate, wilful, intentional non-compliance of statutory provisions
5. Personal injuries and mental, anguish or shock resulting therefrom.
6. Infringement of plans, copyright etc.
7. Fines, penalties, punitive or exemplary damage
8. War and nuclear perils
The policy provides for following extensions
1. Pollution cover
2. Transportation risk
3. Technical collaborators liability
4. Carriage of effluents outside the premises
5. Act of God perils
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