What are some of the major exclusions?

  • To pay for product recall. (unless offered as extension)
  • 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.
  • Contractual liability unless such would have existed without the specific contract.
  • Product guarantee.
  • Claims for failure of product fulfilling use intended (Product Efficacy).
  • Products having left insured's premises prior to retroactive date.
  • Policies covering Exports to US/Canada only with LOI of more than INR 25 Crores.