IRDAI License Number: IRDAI/INT/ISNP/2022/250

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Public Liability Policy
Public Liability Policy
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Public Liability Policy
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Introduction
Who can take this Policy?
Coverage
Add on Covers
Basis of Sum lnsured
Exclusions
Introduction

As a follow up of Environment Protection Act of 1986, Public liability Insurance is mandatory in respect of those who handle hazardous substances by virtue of Public Liability Insurance Act of 1991. The names of hazardous substances and the quantity of each, is listed in the 'Act' and the quantity of the substance can be as low as one kilogram for Act purposes.

Who can take this Policy?

The Policy can be taken by anyone having a physical property such as House, Commercial Property, Machines, any other assets for which they are liable for any third party bodily injury and property damage

Coverage

  • The policy benefits will accrue only to third parties who may suffer personal injury or damage to their property as a direct result of handling of the 'hazardous' substances.
  • Courts can pass awards against the insurance companies direct as privity is created by the compulsory insurance policy.

Add on Covers

Add ons under PL Policy are as follows:

  • Bodily Injury & Property Damage
  • Personal & Advertising Injury
  • Medical Payment
  • AOG Peril Liability Extension
  • Travel of Executives worldwide for non manual work
  • Lift/Escalator Liability Extension
  • 72 hrs sudden and pollution extension
  • Tenant Legal Liability
  • Transportation Liability
  • Food & Beverage extension

Basis of Sum lnsured

Limit of Liability should decided on the basis of Turnover of the Business, Employee strength, Industry Benchmarking etc.

Exclusions

Main exclusions under this policy are:

  • Product Recall
  • Errors & Omissions
  • Employer's Liability
  • War and Allied Perils
  • Pollution Liability
  • Damage to Insured's property or product
  • Liability arising out of Aircrafts/Hovercrafts/ Watercrafts or Automobiles
  • Contractual liability
  • Liability arising out of Mobile equipments
  • Liquor liability
  • Liability under Workmen's Compensation Act or similar other law

Why Choose PolicyLo.com

Professional and Experienced Team
Professional and Experienced Team
Customized Solutions
Customized Solutions
Strong Relationship With Insurance Companies
Strong Relationship With Insurance Companies
Service Commitment Ontime Everytime
Service Commitment Ontime Everytime
Technological Edge
Technological Edge
Additional Services Offered
Additional Services Offered
Competitive Premium
Competitive Premium
Single Window Solution
Single Window Solution

Important Points to remember while Buying the Policy

Adequate Sum Insured - To Avoid Underinsurance

Retroactive Date should be in continuation and limit of indemnity need to be clearly mentioned

  • Retroactive Date should be in continuation as in claims-made policies, it determines how far back in time an incident can occur for your policy to still protect you.
  • Limit of Indemnity is the maximum liability of Insurance contract and it should be clearly mentioned.
Ensure that assets should be covered under the right entity/company

Notification of any incident which can lead to potential claim should be immediately notified to the insurance company

  • Any Potential Claim should be immediately notified to avoid any ambiguity at the time of claim.
Risk Location/s should be properly mentioned

AOA:AOY should always be 1:1

  • AOA:AOY should always be 1:1 so that for any particular incident the limit is the highest possible as per the policy.
Downloads
Proposal Form
Proposal Form  
Policy Wordings
Policy Wordings  
Claim Form
Claim Form  
Key Documents
General Claim Intimation Format
General Claim
Intimation Format
Immediate Action Client Should Take
Immediate Action Client
Should Take
Indicative General Documents for Settlement of Claims
Indicative General Documents
for Settlement of Claims

Our Insurance Partners

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Claim Case Study - 1

1
Situation
Situation

A heavy tank full of water fell on the person passing on the road.

2
Challenge
Challenge

The tank was not mounted and fixed properly due to which it fell on the head which caused severe injury on the head. Since it was the responsibility of the owner hence the entire liability fell on the owner.

3
Solution
Solution

Third party death, disability, injury and even third party property damage is covered in a motor policy. For third party risk caused by any other reason a Public Liability policy is must.

4
Advisory/Conclusion
Advisory/Conclusion

Liability policy should always be a part of corporates Insurance portfolio.

Claim Case Study - 2

1
Situation
Situation

A Customer who goes to a restaurant with his family for a dinner slips on the wet floor of the restaurant and fractured his leg . There was no signage of " WET FLOOR BE CAUTION".

2
Challenge
Challenge

Customer claimed compensation form the restaurant on the ground that the duty of care was missing from the restaurant.

3
Solution
Solution

It was a chain of restaurant, a liability policy was taken by the corporate office. The claim made by the customer was paid from the liability policy.

4
Advisory/Conclusion
Advisory/Conclusion

All sign of CAUTION must be mentioned in the premises so that such claim can be avoided.

Need Assistance

Need Assistance

FAQ's

PREMIUM
COVERAGES
CLAIMS
OTHERS
  • What are the different type of policies in Public Policy?
    • Public Liability Policy (Industrial Risk)
    • Public Liability Policy (Non- Industrial Risk)
    • Public Liability Insurance Act Policy
  • What is not covered under Public Liability Act Policy?
    This insurance policy does not cover liability arising out of willful or intentional non-compliance of any statutory provisions, with respect to fines and penalties, all as per Act.
  • What are the coverage under Public Liability Act Policy?
    • 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 5cr Any One Accident & AOY limit shall not exceed INR 15 crore in yearly aggregate.
    • Transportation  Liability is covered (within the meaning of “handling”)
    • 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
  • Which are the sectors for which Public Liability Non Industrial Policy can be issued?
    The Policy is meant for Non Manufacturing units like hospitals, retail outlets, schools, IT Companies, BPO's, Clubs etc.

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