Serious accidents can occur as a result of mishandling of hazardous substances, in all industries or business that deal with these. The Public Liability Act, 1991 offers immediate relief to people affected by accidents resulting from the handling of hazardous substance, based on ???No Fault Liability???, through insurance by owner who handle or control these substances.
The Act states that every owner handling or controlling dangerous or hazardous substances should buy Public Liability (Act) Insurance.
The Liberty General Insurance Public Liability Insurance policy prepares you well for mishaps in the future. The policy provides coverage against accidents resulting from the handling of hazardous substances as mentioned in the Public Liability Insurance Act, 1991.
The cover provided by the policy, comes with certain limits, which are:
Any One Accident (AOA): Not less than the paid up capital of the insured, subject to a maximum Rs. 5 crore.
Any One Year (AOY):??? Three times the ???Any One Accident??? limit, subject to a maximum of Rs. 15 crore.
Claims exceeding the above statutory limits are to be met by the Environmental Relief Fund (ERF).
Factors like gross annual turnover and limits of indemnity are considered before calculating the amount of premium paid by you.
Please read the policy wordings. for more information.*Terms & Conditions apply.??????
Anyone (company, association or firm) handling or controlling hazardous substances as mentioned in the Public Liability Insurance Act 1991 and the rules framed thereunder is eligible to purchase Public Liability (Act) Insurance.
To understand eligibility better, please read the policy wordings.
The policy covers the statutory liability of the Insured arising out of accidents occurring during the currency of the policy due to the handling of hazardous substances as provided in the Public Liability Insurance Act 1991 and the Rules framed thereunder.
For all business units handling hazardous substances as per Public Liability Act, 1991 and the rules framed there under
o War
o Deliberate, willful or intentional non-compliance of any statutory provision.
o Ionizing radiations
o Arising out of fines, penalties, punitive and/or
exemplary damages
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