Liability Insurance

For smooth conduct of your business, you must have adequate protection towards Legal Liability to Public – be it required under any Statute or Act, or General Public Liability or Specific Public Liability. With increasing public awareness, the necessity for these insurance solutions is being felt. There are several Liability Policies now available in Indian market like
a) Public Liability (Act) Insurance Policy.
The Public Liability Act, 1991 is effective since 01.04.1991. This insurance provides immediate relief by owners to accident-affected people due to handling of harmful substances on ‘No Fault Liability’ basis.
b) Commercial General liability Insurance Policy.
Commercial General Liability (CGL) Policy covers liability exposures occurring due to your business procedures. While operating as an amalgamation of Public Liability and Product Liability policies, CGL provides various additional covers in the standard Policy words.
c) Workmen’s Compensation Insurance Policy
The Workmen’s Compensation Insurance Policy covers liability coverage for reimbursement to your employees for physical injury or fatality caused owing to accidents or work-related diseases in the duration of employment. The workmen’s compensation insurance is the best way for an employer to exhibit the ability to gratify the responsibilities imposed by the worker’s compensation law. The compensation is allocated under a scheme laid out in the Workmen’s Compensation Act of India, which is controlled by the Ministry of Labour.
d) Director's & Officers Liability Policy
This policy covers against legal claims for illegal actions of Directors or officers in their corporate tasks. The unlawful acts include errors, misstatements, omissions, deceptive statements, neglect or violation of duty. The beneficiaries are the Directors, Officers or the organization.
e) Professional Indemnity Policy for Doctors and/or Medical Establishments, Lawyers/Solicitors, Chartered Accountants etc.
These Policies tend to protect the concerned professionals against legal liability arising out of professional negligence.
f) Errors & Omissions Policy for Hospitality Sector, Educational Institutions, Technology & Software Companies
During your professional business activities, there may be some legal liability caused by negligence etc caused to your clientele and other associated third parties and these policies give you the necessary protection against these.

Apart from these, there are some other liability policies and new policies are introduced in the market covering specific needs like Credit Insurance Policy etc.