Insurers cover various supplementary expenses under commercial general liability insurance. These charges, however, may vary according to different insurance policy providers. Following are some of the supplementary expenses commonly covered by Commercial General Liability Insurance: Claim Adjustment Expenses Claim adjustment expenses, as the name suggests, are the expenses incurred in the settling of insurance claims. […]
Liability Insurance
What is Product Liability Insurance Policy?
Product liability insurance is a policy that indemnifies the distributor, wholesaler, and retailer against various losses or damages which could arise out of the consumption or use of products manufactured, sold or distributed by them. As a manufacturer who is supplying products, you always deal with the risk that your products could cause loss or […]
What is a Liability Umbrella Insurance Policy?
A liability Umbrella Insurance Policy is like extra liability insurance that safeguards you against various claims and lawsuits. Thus, it helps in protecting your assets in the following two ways= It gives additional liability coverage over and above the limits of your auto and home insurance policies. The liability umbrella insurance policy coverage kicks in […]
What are the requirement stemming from RERA on title insurance?
Title insurance protects against financial losses arising due to fraud or title disputes. It will add a protective layer to the property-buying event. In a title insurance policy, the premium amount is paid once for the entire tenure. This is a must-have insurance policy for promoters of all new and ongoing property developments registered with […]
What are the benefits of title insurance policy?
Title insurance is an emerging insurance product in the Indian market. It provides aid to resolve ownership issues, frauds like forgery, past land title defects, etc. It offers greater confidence to home-buyers or owners, developers of residential projects, and real estate businesses. So, What are the benefits of a title insurance policy? The following benefits […]
What is Title Insurance? What does it cover?
Title insurance addresses title defects when the property changes hands. It is a form of indemnity insurance policy that helps in curing title defects. This policy tackles title problems such as undisclosed heirs making claims for the property, mistakes by recording a document, or property taxes not paid by the prior owner, etc. A Title […]
Applicable of principle of subrogation to Product Liability insurance?
Yes, the principle of subrogation applies in the case of product liability insurance policy as well. If a product liability insurance company settles the claim, the insurer shall be subrogated to all of the policyholder’s rights of recovering the claim amount if the loss or damage happens due to the fault of the third party. […]
Does Public Liability Insurance Cover Subcontractors?
Does Public Liability Insurance cover Subcontractors as well? Yes, public liability insurance cover subcontractors as well. If you are working as a subcontractor, you are vulnerable to various kinds of losses or damages. Moreover, if you are working as a subcontractor, you are more likely to be running your own small business. Even if you […]
How to Calculate the Premium for Product Liability Insurance?
Product liability insurance plays an important role by covering you against various losses or damages which may arise due to the consumption or use of your defective item. The premium for product liability insurance is determined on the basis of the risk posed by-product along with factors like quality control procedure, exporting country, business turnover, […]