Public Liability

About the product

Any company - Industrial or a non-industrial establishment faces the risk of becoming liable legally to pay damages, as defendant, to third parties as a result of accidental death or bodily injury to third parties or loss or damage to a property belonging to a third party. Just in case of such a fortuitous occurrence the company would be forced to bear legal expenses irrespective of the fact that the claimant is able to establish negligence on the part of the defendant

Industrial risks- manufacturing, warehousing and construction industries
Non industrial risk - offices, schools, housing societies, hotels, restaurants and other

Limit of Indemnity (OR) Limit of Liability

Any One Accident (AOA) and Any One Year (AOY) are expressed in either of 1:1, 1:2, 1:3, 1:4

Premium

Premium charged depends on following factors:

  • Limit of indemnity selected
  • Ratio of AOA and AOY
  • Annual turnover (Revenue from operation)
  • Nature of Risk occupancy