Pays for any litigation cost against any official or key employee. Protects directors and other key executives from various litigation costs. Necessary to embolden executives to work without fear of any kind of litigation. Covers any kind of litigations.
Pays for litigation related to alleged negligence in service. Relevant for all services companies and individual professionals such as doctors, architects and chartered accountants. Conduct your business without worrying about acrimonious litigation.
Pays for third party claims in your premises or claims due to your products. Covers both public and product liability. Public liability covers litigation by third parties hurt on your premises. Product liability covers damages caused by products that you manufacture.
These insurances are specific to select industries. Carrier Legal Liability protects fleet owners and transporters. Cyber Risk most applicable to companies dealing in online customer information. Commercial Crime relevant to financial services companies amongst others.
A commercial liability insurance is designed to protect your business and would pay for any legal liability that may force you to payout a huge compensation for damage or injury caused to a third party by virtue of your business’ day to day operations. A commercial liability insurance is essential for all the companies that involve in manufacturing or development or physical as well as software products to protect its clients, customers and employees.
There are essentially two types of commercial liability insurance policies, i.e., financial liability and casualty lines. Financial lines cover legal liability arising from financial loses of the third party. The casualty lines of product cover legal liability arising from property damage and bodily injury of third-parties.
Below are some illustrative products within financial and casualty lines:
Exclusions for commercial liability insurance vary with insurers. However, some of the common types of exclusions are below:
Note: This is not an exhaustive list, your policy copy will contain details of all the exclusions under your specific liability insurance policy.
Below is the list of documents required while filing a claim for commercial liability insurance:
We have specialized underwriters and tie-ups with international experts.
We work with all insurers to get you the best options- both in terms of price and features.
Cover notes are issued within hours of request. This documentation is sufficient for any contractual requirement.
We manage all aspects of your claim - from preparing documentation to follow-up with the insurer.
We will advice you on risk management best practices.
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