Public Liability Industrial & Storage Insurance

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Public Liability Industrial & Storage Insurance Policy

It covers all sums which the Insured becomes legally liable to pay as damages to third party in respect of accidental death/bodily injury/disease and loss of or damage to property.

Compulsory excess exists.

Pollution risks can be covered at a nominal additional premium.

Multiple units (non-manufacturing) along with the main manufacturing unit can be covered at nominal additional premium.

Storage risks will be covered by charging due premium.

That transportation of hazardous items outside premises excluded unless specifically covered.

Convulsions of nature can be covered by charging additional premiums.

For injury damage, which does not immediately show up, from the date of discovery of loss the retroactive period starts.

When a multiplicity of claims is received they will be treated as one.

What it covers?

It covers all sums which the Insured becomes legally liable to pay as damages to third party in respect of accidental death/bodily injury/disease and loss of or damage to property arising out of claims first made in writing against the Insured during the Policy period. It includes legal costs and expenses incurred with prior consent of Insurers, subject always to the limits of indemnity and other terms, conditions, and exceptions of the policy.

Major Exclusions

To pay for any losses assumed by agreement which would not have attached in the absence of such agreement.
For losses arising out of convulsions of nature.
For losses arising out of non-compliance of statutory provision.
For losses arising out of purely financial nature such as goodwill loss etc..
For losses resulting from personal injuries (such as libel, slander, etc.) and infringement of plans.
Fines, penalties resulting from multiplication of compensatory damages. War & nuclear risks.
Liability arising out of the ownership possession and use of aircraft, watercraft or hovercraft.

Excluded Business Categories

Any liability of railways & Aircrafts/Airside operations.
Any liability of Defense establishments.
Defective design except claim on account of defective design of premises.
Vessels including their navigation.
Manufacturing/formulation facilities in the US/Canada.
Liability section of EAR / CAR policies.

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Public Liability Industrial & Storage Insurance