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United India Liability Insurance |
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Public Liability Policy
We Cover
The Public Liability Act, 1991 was made effective from 1st April 1991. The object of this Act is to provide through insurance immediate relief to persons affected due to “accident” while “handling” “hazardous substance” by the owners on “no fault liability basis”. This has also been brought under Tariff. The definition of “Owner” is so comprehensive as to cover any person who owns or has control over any hazardous substance at the time of accident. This includes any Firm or its partners. Association or its members, Company or its Directors and all other persons associated and responsible to that Company in the conduct of their business.
Insurance Limits
Any one accident :
Minimum equal to Paid up Capital upto a maximum of Rs.5 crores.
Any one year :
3 times of ‘Any one accident’ limit subject to a maximum of Rs.15 crores.
Liability beyond Insurance
In case of claim/s exceeding the above statutory limit/s, it is to be met by the Environmental Relief Fund to be set up under Section 7A of the Act and managed by the Authority appointed by the Central Government.
The liability beyond the total of the insurance and the Relief / Fund is to be borne by the “Owner”.
Contribution to the relief fund
An amount equal to the insurance premium chargeable is to be paid simultaneously by every owner with the insurance premium to the underwriting Company.
All proposals can be rated and accepted at DO level in terms of the rating structure laid down.
Schedule of Compensation
1. Reimbursement of medical expenses incurred upto a maximum of Rs.12,500/- in each case.
2. For a fatal accident the relief will be Rs.25,000/- per person in addition to reimbursement of medical expenses, if any incurred on the victim upto a maximum of Rs.12,500/-.
3. For permanent total or permanent partial disability or other injury or sickness, the relief will be :
1. Reimbursement of medical expenses incurred, if any, upto a maximum of Rs.12,500/- in each case and,
2. Cash relief on the basis of percentage of disablement as certified by an authorized physician. The relief for total permanent disability will be Rs.25,000/-.
4. For loss of wages due to temporary partial disability which reduce the earning capacity of the victim, there will be a fixed monthly relief not exceeding Rs.1,000/- per month upto a maximum of 3 months provided the victim has been hospitalized for a period exceeding 3 days and above 16 years of age.
5. In respect of damage to private property, upto Rs.6,000/- per claim.
Apart from Public liability insurance Act policy, policies are also available to cover the legal liability of the insured against third parties for claims arising due to industrial accidents. Two different types of policies are available to cover accidents in industries like factories etc and non industries like hotels, schools, exhibitions and storage tanks etc.
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ICICI Prudential Life |
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United India Insurance |
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