We live in a litigious environment where consumers are increasingly aware of their rights and ready to pursue legal action if they believe a product has harmed them. Businesses must protect themselves against potential financial losses arising from product failures, defects, or other liabilities. Today, businesses face many challenges to thrive in the market as […]
What is absolute liability under public liability insurance Act 1991?
The Public Liability Insurance Act of 1991 in India imposes absolute liability on industries that handle hazardous substances or engage in dangerous activities. Let’s understand what absolute liability is in detail through this blog. Public Liability Insurance Act 1991 “The Act was enacted to address the issue of industries that handled hazardous substances and engaged […]
Public Liability Act Insurance versus Public Liability Insurance
The Public Liability Insurance (PLI) Act 1991 is an Indian law that was enacted to provide public liability insurance for the purpose of providing immediate relief to persons affected by accidents occurring while handling hazardous substances. In response to 1984 Bhopal Gas Tragedy, which resulted in the loss of thousands of lives, the Act was […]
CGL Insurance and Cyber Liability: Addressing the Growing Threats to Businesses
Recognising and addressing the threats are extremely important for businesses to grow continuously. Along with the rising competition, social perception, and new laws and regulations, businesses need to address the growing threats in terms of data security, natural disasters, and the financial consequences of advertising injury, property damage, and more. Along with good risk management […]
Commercial General Liability Insurance, India: Coverage Essentials
Commercial general liability insurance is a fundamental and essential component of every business’s risk management strategy. Irrespective of the industry type and size, businesses are exposed to a wide variety of risks that can result in liabilities. CGL policy coverage gives protection to businesses against a range of liability exposures. Commercial general liability insurance is […]
What is contractors’ pollution liability insurance and what does it cover?
Contractors Pollution Liability Insurance is a specialised form of insurance policy that aims to protect contractors from the financial costs associated with third-party claims for bodily injury, property damage, and environmental damage caused by sudden and accidental pollution incidents. Tailored to specific needs, it covers contractors’ legal liability due to indemnity obligations in contractual agreements. […]
The Principle of No-fault Liability of the Public Liability Insurance Act, 1991
The principle of no-fault liability is incorporated in Section 3 of the Public Liability Insurance Act 1991 and is further extended by Section 4 of the Act. This concept was introduced to provide a safe industrial environment for the workers handling hazardous substances and to get financial benefits from the insurance policies. In this blog […]
Environmental liability insurance (ELI) – Coverage and Benefits
The environment plays a crucial role in keeping our planet Earth healthy and thus it is our responsibility to protect the environment. With a lot of importance given to nurturing environmental consciousness, the government has formulated various environmental laws and keeps bringing new legislation related to environmental safety. Companies operating in industries like the energy […]
Types of Insurance Oil Companies must take for offshore assets.
The oil and gas industry is highly diverse, with numerous subsets requiring specialised insurance coverage. As a result, insurance for oil and gas professionals and businesses can be complex. In addition to standard policies that most businesses use for protection, oil and gas companies require tailored insurance policies to cover specific equipment and services. These […]
How is the Public Liability Act Premium Bifurcated from the Environmental Relief Fund?
With the advent of the Industrial Revolution, it had a profound social impact, particularly in terms of the number and severity of accidents in manufacturing plants. With the evolution of sophisticated manufacturing product lines and the implementation of heavy machinery, chemicals, and robotic engineering, the risks for human workers have increased dramatically. In response to […]