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Products >> Commercial Insurance >> Product Liability Insurance Policy

IFFCO-TOKIO's product liability insurance policy is available to protect you against legal liability arising out of the use of your product by third parties resulting in:
  • Accidental death lnjury
  • Loss of property
to the third parties after the products have left your premises.
Exclusions
We shall not be liable:
  • To pay for product recall
  • To pay for repair of product allegedly defective
  • For products used in structure and controls of aircraft . Deliberate willful non compliance
  • Pure financial loss such as loss of goodwill
  • Arising out of fines ,penalties other punitive damages
  • War and nuclear group of perils
  • Damage to property belonging to you or held in trust by you
  • Losses arising prior to retroactive date
  • Arising out of deliberate disregard of insured's guidelines regarding use of product
  • Injury to any person in contract or connected in employment with insured
  • Claims for failure of product fulfilling use intended
  • Products having left insured's premises prior to retroactive date
You Must Note
  • All written communication received from the Collector be expeditiously brought to our attention and any information required their in be furnished immediately
  • No admission of liability be made without concurrence of insurance company
  • Claims lodged after five years of their occurrence will not be entertained
  • The company can ask for turnover records and other claim related documents
  • Proportion payable in case of other insurance policies existing
  • Non disclosure or misDescription would prejudice your claim
Documents required for settlement of claims:
  • Claim form, Award passed by the district collector
  • Summons, writ petitions, Police report if any


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