What does the policy cover?

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.

What are some of the 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 pure 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.

Which business categories are excluded?

The excluded business categories are:-

  • 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 US/Canada.
  • Liability section of EAR/CAR policies.