Public Liability — Act
What it covers
What it does not cover
Coverage:
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
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