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 […]
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 […]
What are the different types of Business Insurance for small businesses?
Business insurance, also referred to as commercial insurance policy, is a combination of insurance plans catering to a multitude of business needs. Based on the type of activity in the firm, any or multiple of the following different business insurance policies can be bought: Office Premises / Shop Insurance Stocks / Goods (Raw, in process, […]
Things to Know Before Buying Professional Indemnity Policy
Professional indemnity insurance is known to be popular amongst areas of expertise like accountancy, architecture, medicine, or the law. It is also highly useful to anyone giving professional advice, consultancy, or design work. Buying professional indemnity insurance is not legally compulsory. However, some organizations will only work with a consultant who has PI insurance coverage […]
Small business owners covering legal fees in the case of a lawsuit
Businesses these days are vulnerable to many lawsuits regardless of the location or industry. Small business owners are frequently involved in defending against claims and lawsuits arising from their business operations. While doing business, small businesses interact with clients, vendors, employees, and contractors. Any one of them can claim that a particular incident caused them […]
What is Occurrence-Based Malpractice Insurance?
An occurrence-based malpractice Insurance, which comes under a commercial general liability policy, protects the policyholder from a covered incident that ‘occurs’ during the tenure of the policy, irrespective of the fact when the claim is filed. It means an occurrence-based policy will cover those claims as well which arise even when the policy had canceled […]
What are the duties of Insured under product Liability Insurance?
Product liability insurance plays an important role in safeguarding the business from various claims which may arise in respect of its products and services. So, what are the duties of the Insured under Product Liability Insurance? Though product liability insurance offers coverage; the policyholder has to discharge some duties under a product liability policy. Duties […]
How Much Cover Should You Take in Public Liability?
The amount of public liability cover you need depends on the kind of business you do and what kind of coverage your clients are expecting. Further, while deciding on the cover, you should think about the scale of work you do. Along with the possible compensation amount that you would have to pay in case […]
What are the duties of Insured under Commercial Liability Insurance?
Commercial Liability insurance policies are an important protection for corporate policyholders. They are known for providing defense and indemnity coverage against claims for bodily injury and property damage. This policy enlightens on the major duties of an Insured under Commercial Liability Insurance. Listed below are the duties of an insured under Commercial Liability Insurance in […]