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. […]
Drone insurance: All you wanted to know about drone insurance
Drone insurance is growing popular as many types of businesses have adopted drones. They have become the preferred mode of delivery or photography. A drone can be an expensive piece of equipment costing several lakhs of rupees. Hence it is important to insure your drones and several insurance companies today provide comprehensive coverage to remotely […]
How does product recall liability policy work, and what does it cover?
Product recall is a request from the manufacturer to return a product after the discovery of safety issues. Or product defects that might endanger the consumer or put the maker/seller at risk of legal action. The product recall insurance is provided as an add-on to the product liability insurance policy. Product recall insurance within the […]
What are the advantages of a Commercial Liability Insurance plan?
A business can protect itself by purchasing a commercial liability insurance plan, which offers the following benefits: Bodily injury liability: It protects your business if injuries are caused to the other person due to your business operation. Property damage liability: It protects your business if damages occur to the property of others. Personal injury liability: […]
What are the benefits of Business Insurance?
Running a successful business always comes with inherent risks. A client could file a suit, a natural disaster can ruin things, or someone can get injured on the site. For this reason, it is essential that a business has an insurance policy in place to protect itself as well as its assets. So, what are […]