What types of expenses are covered under the auto-component manufacturer policy?

With the increasing frequency and speed of modern-day lawsuits, every manufacturing unit has started to become more proactive to minimize the fallout and recover customer trust. An auto component manufacturer should buy product liability insurance and product recall insurance in order to get coverage against client-related lawsuits. Following expenses are covered under auto-component manufacturer policy: […]

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What is not covered in auto-component manufacturer insurance policy?

Auto-component manufacturer insurance policy covers product liability and product recall insurance. In order to secure your business operations against the financial loss due to product-related lawsuits or product recalls, buying business liability policy is important and it is equally important to know the important aspects about this business insurance. Following are the exclusions under the […]

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What do you mean by EPLI? Is it covered in D&O insurance?

Yes, EPLI can be covered under the Directors and Officers (D&O) insurance policy. EPLI, also known as Employment Practices Liability Insurance, is a claims-made policy which reimburses defence cost and settlement cost incurred by an employer against fighting employee-related lawsuits. An employee can make or break the organization and be fighting against an employee-related lawsuit can cause […]

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Can unqualified staff be covered under medical indemnity insurance?

Yes, unqualified staff can be covered under doctors professional indemnity insurance by paying an additional premium amount. Unqualified staff includes compounder, ward boys, and nurses etc. All the staff members working in a hospital or clinic can be covered under the medical establishment’s professional indemnity policy. Mistakes are the part and parcel of professional services […]

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What are the main exclusions under the doctors professional indemnity insurance?

Doctor’s professional indemnity insurance protects the insured against breach of professional duty, negligent acts and error or omission performed by doctors and medical establishments. The PI insurance policy saves the legal cost incurred against fighting professional liability claims. It is important for doctors to scrutinize the scope of coverage offered by doctors professional liability insurance […]

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State the difference between Carrier Legal Liability and Multimodal Transport Operator Liability?

The demarcations between carrier legal liability (CLL) insurance and multi-modal transport operator (MTO) legal liabilities insurance are defined in terms of different mode of transport coverage, coverage of the geographical region, and service provider’s statutory requirement of buying the respective policy. Carrier legal liability covers the legal liability arising due to fire or accident to […]

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What is professional indemnity insurance?

Professional indemnity insurance, popularly known as PI Insurance or professional liability insurance (PLI), offers coverage to professionals like consultants, lawyer, architects, doctors etc against the error and omission claims filed by a third party i.e. clients. This policy indemnifies you against the legal cost and protects your professional reputation. Any claims arising out of negligence […]

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Do I need professional indemnity Insurance as an engineering consultant?

An engineering consultant is a professional adviser who with his due diligence and reasonable skills provides assistance in engineering projects. Errors and omissions are part and parcel of professional services and Professional Indemnity Insurance (PLI) help you get covered against negligent acts, error or omission etc. In engineering projects, there are high chances of design […]

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