This policy covers damage caused to third party as a direct result of negligence. When an accident occurs to an individual person or entity causing damage, and if proven that such accidents are a direct result of negligence in doing business then the individual or entity causing the damage becomes legally obliged to compensate the Third Party. Such risks exposure to an individual or organization is termed as Third Party Liability.

What risks are covered?

This policy indemnifies the insured against all sums which the Insured shall become legally liable to pay as compensation in respect of,

• Accidental bodily Injury or illness to third parties
• Accidental loss or damage to property belonging to third parties.

Caused through the fault or negligence of the insured or his employees whilst engaged in the course of performing their business activities.

• The policy also provides you coverage against the legal expenses incurred in defending the liability with the consent of the insurer.

CGL policy covers wide range of liability exposures of commercial organisations. The loss exposures come under following broad categories:

• Premises and Operation Liability Risks
• Product Liability Risks
• Accidental Pollution Liability Risks

Coverage

This policy indemnifies the insured against all sums which the Insured shall become legally liable to pay as compensation in respect of,

• Accidental bodily Injury or illness, damage to third parties that happens during the period of insurance and arises out of and in connection with the business
• Bodily injury or damage that happens during the period of insurance and arising out of or from or in connection with the insured’s products
• Bodily injury, damage or denial of access, arising out of or from pollution occurring during the course of business provided that the pollution is caused by a sudden, Identifiable, unintended and unexpected incident that takes place in its entirety at a specific moment in time and place during the period of insurance.

The policy also provides you coverage against the legal expenses incurred in defending the liability with the consent from insurer.

Professional Indemnity policy protects the policy holder (Professionals) from damages caused to third party due to an act of negligence committed by them while performing their professional duties. Examples of professional services includes:

• Accountants
• Lawyers
• Actuaries
• Architects
• Engineers
• Consultants
• IT firms

Coverage

The policy provides an indemnity to the assured in respect of their legal liability to third parties for any claim which;

• Caused by a negligent act, negligent error or negligent omission on the part of an employee of the Insured
• Has arisen out of the provision of a professional service by the Insured
• Is for compensatory damages including claimant costs and defence costs of the assured
• Is made against the assured during the policy period (Claim Made).

This policy provides financial protection for the directors/officers of the company in the event they are sued for a wrongful act whilst discharging their duties in their personal capacity, knowingly or unknowingly or in their respective capacity under Common Law, Corporate Law and Security Law except to the extent that these directors/officers have been indemnified by the company for such loss. In addition, this policy also reimburses the company for any loss arising from a wrongful act that it has indemnified in respect of that director/officer.

Coverage

The cover applies to former, present and future members of the Board of Directors and the Management comprising officers and employees in a managerial or supervisory capacity. The policy normally covers the Parent company and all subsidiaries of the Parent Company as mentioned in the Last Annual Audited accounts submitted with the Proposal form. If it is required to cover the Directors of newly acquired companies (through mergers, acquisitions, take-overs) or shadow Directors, the same could be noted on the policy. The policy is designed to operate on an unnamed basis covering all directors / officers and employees of the Policyholder.

Where can the liability come from?

• Receivers, Liquidators and Administrators
• Shareholders
• Factory Inspectorate, Enforcement Directorate and Other Government Bodies
• Creditors
• Customers and Suppliers
• Employees
• Others