Policy Overview
This policy provides financial protection against legal liability to third parties for bodily injury or property damage arising out of the insured’s business activities, premises, or operations.
It covers compensation payable under law, including legal costs and expenses, subject to policy terms and conditions.
Who Can Take This Policy?
This policy is suitable for:
- Businesses and Commercial establishments
- Manufacturers and Industrial units
- Contractors and service providers
- Property owners, landlords, and tenants
- Event organizers and institutions
Policy Description
The policy covers Legal liability arising from:
- Accidental bodily injury to third parties
- Accidental damage to third-party property
- Legal costs and expenses incurred with insurer’s consent
Caused by an occurrence during the Period of Insurance in connection with the Insured’s activities, premises, or operations
- Products Liability Cover
- Tenant’s Liability
- Sudden & Accidental Pollution
- Event Liability (for specific events)
Limit of Indemnity applies per accident and/or per policy period
- Any One Accident (AOA) limit
- Any One Year (AOY) / Aggregate limit
- Defence costs - within the Limit of Indemnity
It is important that adequate limit selection is critical to protect against large third-party claims.
This policy does not cover:
- Employee injuries
- Contractual liability beyond legal liability
- Intentional or wilful acts
- Pollution (unless specifically covered)
- Professional negligence
- Loss or damage due to use of Motor Vehicles
- War, nuclear risks, and radioactive contamination
- Fines, penalties, and punitive damages
- A compulsory excess applies to all claims
- Higher excess may apply for specific risks
- Excess may vary based on nature of business and risk exposure
Insured's Duties
You must:
- Take reasonable care to prevent accidents and maintain safe premises
- Comply with all statutory and safety regulations
- Notify insurer immediately of any incident that may give rise to a claim
- Not admit liability without insurer’s consent
- Inform Police wherever applicable
- Provide supporting documents and evidence for claims
- Allow inspection by insurer or appointed surveyor
Claims Procedure
- Notify insurer immediately upon occurrence of incident
- Submit completed claim form and supporting documents
- Provide supporting documents, witness statements, and evidence
- Inform insurer of any legal notice or summons received
- Do not admit liability or settle without insurer approval
- Claim assessment and settlement as per policy terms
Policy Period
- Typically, 12 months
- Renewable annually
Premium Factors
Premium is based on:
- Nature and type of business activity
- Turnover / revenue
- Risk exposure and hazard level
- Location and premises conditions
- Limit of indemnity selected
- Safety and risk management measures in place
- Claims history
- Extensions selected