What business activities does the policy cover?

  • Architects & Engineers providing Design consultancy only.
  • Management Consultants.
  • Interior Decorators.
  • Network Integration & Design.
  • Project Consultants. (Excluding construction)
  • Study & Survey associations.
  • Manpower Consultants excluding Fraud & Dishonesty cover.

What are some of the major exclusions in the policy?

  • Any criminal act, fines and penalties.
  • Services rendered while under the influence of intoxicants or narcotics.
  • General anesthesia unless the procedure is carried out in a Hospital.
  • The use of drugs for weight reduction or performance of cosmetic plastic surgery, hair transplants and similar processes.
  • Directly or indirectly caused by or associated with Human T. Cell, genetic injuries caused by X-Ray treatment/diagnosis or treatment/diagnosis with radioactive substances etc.
  • Contractual Liability, War, Nuclear Explosion, Terrorism.
  • Loss of financial nature such as loss of goodwill, loss of market etc.
  • Infringement of plans, patent, trade name, trade mark, trade secret, registered design.
  • Any dishonest, fraudulent criminal or malicious act or omission.
  • Loss on account of time spent in investigating the cause of damage (including costs for re-projecting in connection with the damage) and claims for losses sustained.
  • Bodily injury, sickness, disease, death, damage to property or financial loss and/or consequential loss unless arising out of wrongful, faulty or inadequate design or advice.
  • Liabilities attaching under contract of employment (Employer’s liabilities).
  • Earthquake, volcanic eruption, flood, storm, or other similar convulsions of nature & atmospheric disturbance.
  • Loss of use and/or loss due to delay or inadequate quantities/qualities or arranging the supply of material.
  • Arising from exceeding fair estimates and costs from not adhering to deadlines in completing the construction of project or part thereof and from defective accounts or control of accounts.
  • Inadequate quantities/qualities or arranging or handling the supply of material.

Which are excluded business categories?

  • Banks and Financial institutions.
  • Companies who do not have a registered office in India (except for subsidiary operations of an Indian insured) or Companies whose turnover from US/Canada operation are > USD 15 million or 15% of their total turnover.
  • Educational institutes, colleges etc. for PI of trainers, teachers, professors etc.
  • Medical practitioners, Hospitals, Clinics, Laboratories, Lawyers, CAs etc.
  • Construction activity.
  • Genetically modified organisms.

How much maximum capacity is permissible?

It shall not be permissible to issue any PI Policy with unlimited liability. The ratio of limit of indemnity any one accident to any one year shall not exceed 1:4. The maximum LOI we can offer is INR 35 Crores.